February/March 2020 Update

This monthly update is much longer than normal, but I urge you to read through it, given the current state of the world and economy. Both the coronavirus (COVID-19) and recent stock market plunge are on most people’s minds these days. I know this because everyone from my Uber drivers to college professors to fellow physicians are telling me about …

January/February 2020 Update

I hope all is well with you. We are having a warm and windy weekend here in Colorado…. It’s hard to believe that we’ll be covered in snow, with temps dropping below zero, in the next 3-4 days! Similar to 4Q in 2019, the GDP in the United States continues to decelerate while inflation tepidly accelerates. Not helping matters is …

Vailshire Partners LP Client Memo: 4Q2019/1Q2020

Greetings from Colorado Springs! I hope you and your loved ones enjoyed celebrating the holidays and New Year recently. Our family enjoyed a quiet Christmas together at home before venturing to Minnesota for a quick visit with our family and friends. The State of the Economy At the start of a new decade, the US economy remains in a period …

December/January 2020 Update

Happy New Year and (a belated) happy holidays! In the 4th quarter of 2020, we experienced continued deceleration of GDP in the United States with new mild acceleration of inflation. We remain in an industrial recession, but the consumer remains relatively stable and strong. The equity markets have continued to reach new highs and the Federal Reserve remains dovish… and …

November/December 2019 Update

I hope that each of you had a wonderful Thanksgiving week! As I wrote in last month’s update, the US economy has been showing signs of moving from bad-to-less-bad in the short term, which means that we can be cautiously optimistic in our investment style. While we are still seeing slowing economic (GDP) growth relative to the previous 1-2 years, …

October/November 2019 Update

After several months of maintaining highly defensive positions within our portfolios, we finally started to see signs of “bad-to-less-bad” within the United States’ economy in October. The previous market conditions were such that a precipitous drop in high-volatility, technology, and other growth stocks was to be expected, statistically-speaking. Because of this, we were in full protection mode with our asset …

Vailshire Quarterly Update | Q3 2019

Dear client or friend of Vailshire Partners LP, Happy Autumn! I hope this season’s quarterly client memo finds you well. The State of the Economy Similar to what I wrote in my last memo to you, the United States remains on the precipice of a recession. In fact, the manufacturing sector is already in a recession and the services sector is …

September/October 2019 Update

Autumn is upon us and the leaves are just starting to turn here in Colorado Springs. I warmly welcome the cooler weather after this year’s long, hot summer! I hope all is well with you. Market Conditions Not to sound bleak, but I continue to see real-time signs of a slowing US economy, minimal inflation, increasing geopolitical risks, and richly valued …

August/September 2019 Update

Dear client or friend of Vailshire Capital Management, Happy Labor Day! I hope that each of you is finding time to rest and reconnect with people you love today. Today’s monthly update should be quick, so you can get back to your grills! Market Conditions Our defensive stance has paid off lately, as evidenced by our investment account returns. While …

July/August 2019 Update

Dear client or friend of Vailshire Capital Management, I just completed the very last final exams for my MBA courses. A mere four weeks away from my 45th birthday and I’m finally done with school! I can’t think of a better way to celebrate than by sending my clients (and interested parties) a monthly update on behalf of Vailshire Capital …