We are focusing our stock selection on sectors where sustainable demand is evident.

Although growth will return, do not expect a return to “status quo ante bellum.”

The education of a cyber-literate citizenry is not negotiable.

The persistence of negative rates leads to the destruction of capital.

It may be better to let the aging bull go and prepare for the next recovery.

Our take from the FED PIVOT: “Save the last dance for me.”