Dmitriy Katsnelson

The recent passing of Charlie Munger, Vice Chairman of Berkshire Hathaway, made us reflect on his and Warren Buffet’s successful investing over the years. And although this missive will not be a tribute to “The Abominable No-Man” or the “Oracle of Omaha,” and regardless of your affinity for Charlie and Warren in general, their common-sense approach to investing provides learning opportunities for us all. If you have read enough investor letters from Berkshire Hathaway’s annual report (which we

As financial advisors, our purpose is to increase the financial well-being of our clients. And, although I believe we add a great deal of value for our clients in helping set and implement long-term financial goals, reviewing insurances and risk management strategies, being tax-efficient in all aspects of investing and estate/gift transfer issues, helping with education funding strategies, attempting to constantly reduce portfolio expenses, helping to prepare for market volatility etc., I think

In this letter: A rush for the exits drains liquidity from most equity and fixed income markets resulting in a rapid and significant sell-off that rivals some of the worst we have witnessed in the past 100 years. A global pandemic ends one of the longest economic recoveries in U.S. history, with expectations of further pain ahead. Economist and market prognosticators search for parallels to provide context to COVID-19 but often lean on poorly drawn corollaries. Central Bank and Fiscal backsto