News

Investment Commentary Q4 2023

Articles | Jan 30, 2024 | Neil Rose, CFA

Capital markets in 2023 showed investors’ resilience—or was it complacency? Clearer was yet another lesson on the dangers in following forecasts, especially those of policymakers, PhDs, and Wall Street strategists. The Fed’s interest rate hikes and tough inflation talk didn’t cause an “inevitable” 2023 recession after all.

Articles

Nov 7, 2022

Not Betting on Soft Landing

Bottom line is it seems prudent not to bet on a soft landing consensus that might only exist in a time with lots of hope, denial, and jobs available everywhere.

Podcasts

Oct 26, 2022

Investment Update – Why This Year Is a Win

Neil Rose explains why this year's (modest) losses are a small price to pay for a future with much higher income generation and lower longer term risks.

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Articles

Oct 20, 2022

Investment Commentary Q3 2022

Why higher interest rates and the worst year ever for bond and 60/40-type investors are cause for optimism at Regency Capital.

Letters

Sep 19, 2022

Welcome, Kawika Shoji!

On behalf of Regency Capital, I am proud to announce Kawika Shoji has joined the firm as a financial advisor and portfolio manager.

Articles

Aug 2, 2022

Investment Commentary Q2 2022

While pleased with the gains from 2021, the developments across strategies in 2022 have been even more encouraging. Neil Rose looks at the current positioning in the context of clients’ longer-term financial goals and concluded 2022 has actually improved their financial prospects.

Podcasts

May 16, 2022

Springtime for Income

Neil Rose and Arthur Mallet explain why the historic drop in bond prices—amid a bear market in stocks, no less—is raising longer-term income generation in Regency Capital portfolios.

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Podcasts

May 6, 2022

Bonds In Free Fall

Investors have noticed the correction in stocks and a growing chance of recession. However, the real carnage has come from the bond market. Neil Rose and Arthur Mallet discuss the ramifications of an asset class that's not as safe as people think.

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Podcasts

Mar 10, 2022

Investment Update – War in Ukraine

Neil Rose explains how Russia’s invasion in Ukraine strengthens the case for recent shifts in Regency Capital’s portfolios.

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Podcasts

Feb 17, 2022

Relentless Value: Lessons from Costco

Neil says to understand Costco is to understand Regency Capital’s approach to stocks. It's a long term holding in a business that’s well-known but perhaps not fully understood: “Costco is not a retailer.”

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Podcasts

Jan 25, 2022

A Stealth Bear Market?

Neil Rose offers some thoughts on what has been a “stealth bear market” as market averages have belied what’s happening to many stocks.

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Letters

Dec 6, 2021

Fairfax Financial Tender Offer

You may have recently received a notice from your brokerage regarding the “modified Dutch tender auction” from Fairfax Financial Holdings Limited.

Podcasts

Oct 23, 2021

What We Talk About When We Talk About Macro

We send you this important 40-minute chat where Arthur Mallet and I discuss all things macro and macro-investing. We address important concepts shaping Regency Capital’s approach to investing, the advantages and pitfalls of macro, and the evolution of my macro education.

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