After finishing the first quarter at depressed levels, growing evidence of an economic recovery as well as highly supportive government monetary and fiscal stimulus helped drive the S&P 500 20% higher in Q2, its biggest move in over twenty years. Remarkably at one point, the index even revisited unchanged territory for the year. However, the […]

The information contained herein should be considered to be current only as of the date indicated, and we do not undertake any obligation to update the information contained herein in light of later circumstances or events. This publication may contain forward looking statements and projections that are based on the current beliefs and assumptions of […]

The word ‘essential’ has become very popular recently in its use by governing heads nationwide to delineate which businesses can remain open during the pandemic. A common definition uses the words, “…of upmost importance, something necessary or indispensable.”  We have been using the term long before 2020 in describing our portfolio, but today it has […]

The information contained herein should be considered to be current only as of the date indicated, and we do not undertake any obligation to update the information contained herein in light of later circumstances or events. This publication may contain forward looking statements and projections that are based on the current beliefs and assumptions of […]

While we have never been through an experience such as this, we do know that the first thing to NOT do is panic. Since the outbreak of COVID-19 and its devastating impact on the US economy, our research has focused on first making a determination of the best ideas in sectors that can withstand a […]

The information contained herein should be considered to be current only as of the date indicated, and we do not undertake any obligation to update the information contained herein in light of later circumstances or events. This publication may contain forward looking statements and projections that are based on the current beliefs and assumptions of […]

A lifetime’s worth of market action was packed into an unbelievably chaotic first quarter of 2020. After an early +5% move to an all-time high of 3,386 on February 19th, the quickly spreading coronavirus (COVID-19) pandemic, along with the collapse of the oil markets, pushed the S&P 500 down 34% to a new multi-year low. […]

This publication is sent with a heavy heart to all those who have been afflicted by COVID-19 thus far, understanding that we are likely just in the first few innings of a sharp recession and medical crisis.  This experience should be a reminder of what is truly ‘essential’ in life, and we are proud of […]

Since becoming a state in 1959, Hawaii has been portrayed as a sunny beach vacation spot with palm trees and a rich cultural history. As with most things, reality is much more complicated. While it does boast some of the most beautiful beaches in the world (with top notch surfing), the rich cultural ‘history’ is […]

MLPs or REITs?  These two have been linked ever since Apache (NYSE: APA) established the first MLP in 1981 due to their above average yields and tax-advantaged status. Other than MLPs having a K-1 for tax reporting versus public REITs having 1099’s like traditional C-corps, both structures provide tax benefits and serve as yield alternatives. […]