Dear fellow investors, The oddity of today’s stock market is exactly what any God-fearing value manager should pray for. There…
Continue ReadingPrivate Fund Structuring “101”
This memorandum describes the typical entity structures used when launching a new private fund. Although various factors influence the choice…
Continue ReadingLogica Capital May 2020 Commentary: While The City Sleeps
Logica Capital commentary for the month ended May 2020, titled, “While The City Sleeps.” Get The Full Seth Klarman Series…
Continue ReadingGold fundamentals support rising price
The gold price is back above $1,700 an ounce as fundamentals continue to support a bullish trend for the yellow…
Continue ReadingWeak JOLT Job Openings Estimate Adds Selling Pressure
In a note to investors, while commenting on the weak JOLT job openings estimate and trading at mid day, Gorilla…
Continue ReadingAmeribor’s Resilience To COVID-19 Stress
Comparison of Benchmark Performance Over the First Four Months of 2020 Get The Full Seth Klarman Series in PDF Get…
Continue ReadingWhy The Stock Market Isn’t Always The Economy
Ben Strubel’s letter to investors for the month of June 2020, titled, “why the stock market isn’t always the economy.”…
Continue ReadingInvestors Await Powell’s Comments: FOMC Preview
June’s Federal Open Market Committee meeting will conclude tomorrow likely with no action taken by the Fed. With interest rates…
Continue ReadingSector Spotlight: The Turn of the Tail
On this episode of Sector Spotlight, after a quick overview of asset classes and sector rotation, I dive into the mailbag…
Continue ReadingCash Flow: It’s All That Matters
Warning, this piece gets into the weeds of financial accounting statements. We dive deep into the cash flow statement, why…
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