What a difference a month makes - Spring Update #2
Good morning,
Looking back on my last note to you, dated April 8th, much has changed. It began with the 90-day ‘pause’ on the Liberation Day tariffs that were enacted on April 2nd. Since then, mainly every piece of investment related news has had a positive effect on investment portfolios. The latest was this weekend, where officials from both China and the US met in Switzerland and began de-escalating that trade conflict as well.
To be clear, nothing has changed from a process perspective on our end regarding our portfolios. I’m still looking for high-quality, long-term growth companies that are trading at reasonable valuations. The recent political and economic landscape has altered the short-term outlook for some of our companies but as things begin to normalize. I remain positive in this regard, as there is still much work to be done by trade negotiators from most countries and I believe as future agreements get announced, it should continue to be constructive for equity markets.
As always, on behalf of our team, I thank you for your support. We will continue to be active with our strategies and appreciate your patience with this recent volatility. I will continue also to keep in regular contact with notes like this and am always happy to review your portfolio individually at anytime. Please do not hesitate to reach out.
Best regards,
George
