It is not an easy thing to write this newsletter. We are first and foremost portfolio managers charged with managing our clients’ money, a task we take very seriously. We want our newsletters to inform our clients and readers about how we view the markets. We do not point forecast the very uncertain macroeconomic and financial future. We are bottom up and valuation driven, not market timers, and we are more interested in the pricing of financial assets and the state of investor psychology.
Read the full newsletter at the link below.Canso April 2018 Market Observer