17 Nov Quarterly Letter to Clients – October 2020
Dear Client: 2020 has been an uniquely odd year for such an even number. We hope you and your family are healthy, safe, and looking forward to regaining some sense of normalcy. It will be most welcome. The market reacted to this unprecedented health pandemic in the first quarter of 2020 with the fastest 30% decline in its history, followed by the largest 50-day advance ever during the second quarter. Given this backdrop, what would the third quarter hold?...