Bill Miller’s Swan Song

It is a rarity that we highlight the work of another portfolio manager, unless his name is Warren Buffett.  Maybe there’s a pride issue there, that we believe we are better writers than others, or we are so contrarian that we are apt to go the opposite direction of every so-called “expert” in our business.  […]

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2nd Qtr. Newsletter-July 2021

Transitory or Sticky?  The Effect of Inflation on Interest Rates and the Economy The charts below cover the last 67 years of the stock market and the interest rate of the 10-year Treasury bond. Interest rates were rising for the first 27 years and declining for the last 40 years. The stock market performed pretty

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Seminar Recap 6/25/2021

We had quite the turnout for our summer investment seminar Tuesday evening.  Thanks to everyone who made it a special evening.  It’s always so cool to see folks reconnect if it has been awhile, or watch others making new friends with each other and discovering they have a common interest or a shared friend.  For

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Greetings fellow taxpayers!

President Biden has rolled out two major “infrastructure” proposals in the last few weeks.  It’s hard to keep track of all the stimulus programs, let alone their names, so we’ll catch you up.  The American Jobs Plan would raise funds for physical infrastructure (along with some non-physical “infrastructure”), for which the President hopes to garner

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GameStop: The War Is On

Greetings to you from the Fort on this drizzly January day.  While winter hasn’t exactly been tropical here, it hasn’t been all that wintery either.  The group that has the firmest ground to complain about this winter is certainly the snow lovers…even the winter “storm” last night brought ice instead of snow. Perhaps the winter

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3rd Qtr. Newsletter-Oct. 2020

The Blue Sky Market It’s fall newsletter time!  Three months have elapsed since you read your last Monarch newsletter, and we understand your excitement.  It’s like how we feel about corporate earnings reports, which come out every three months.  Especially this year, we find valuable nuggets of information in these reports.  What was the cadence

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