Tag: tariffs

We have experienced a benign 2025 so far despite a correction in the stock market and higher volatility. Modest stock allocations and gains in insurance stocks (our single largest industry exposure), gold, and newer fixed income buys have buoyed account values.

As far as investments and what's going on today, I'm still sleeping just fine. I think you should, too. The roadmap laid out in previous letters has been followed. Stock levels are low, and what we have is outperforming overall.

I don’t think anyone expected a quiet start to the new year, but I’m not sure anyone could have predicted the flurry of shocking news stories that have flooded our devices and timelines thus far in 2025.