Month: October 2019

Waves and Tides, Ocean Liners and Motor Boats

Change is good

Dear Fellow Shareholders:

As my June report noted, I could have repurposed my March commentary with a June date. For my September comments, I could easily recycle my June comments (which closely echoed March) with a September date. More simply put, not much has changed. The U.S. continues in a slow expansion producing full employment without inflation (which usually accompanies full employment). This is a rare but happy economic state.

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