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How We Invest In Inflation

This is the second part of my summer letter to IMA clients. You can read the first part here. Thoughtfully and humbly.  We need to recognize that inflation in the long-term is a probability but not a certainty. Macroeconomics is a voodoo science; it appropriately belongs in the liberal arts department. The economy is an […]

Inflation is here. But for how long?

For the last three weeks I’ve been working on our letter to IMA clients. My typical letters, where I discuss stocks in our portfolio and which I write four times a year, run about 30 pages long. This time, when I got to a natural stopping point, I was on page 22. But there was one […]