After nine consecutive years of gains, the S&P 500 finally experienced a down year in 2018. The performance of the market during the year was somewhat peculiar, as stocks remained in positive territory up until December 6th. But a vicious December selloff wiped out the gains, and then some, from the first 11 months of the year.
Quarterly Shareholder Letters (Click each link to download a PDF)
2018
2016
2014
2013
- Annual Report 2013
- Quarter 4, October - December 2013
- Quarter 3, July - September 2013
- Quarter 2, April - June 2013
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Quarter 1, January - March 2013 (not available)
2012
2011
- Annual Report 2011
- Quarter 4, October - December 2011
- Quarter 3, July - September 2011
- Quarter 2, April - June 2011
-
Quarter 1, January - March 2011 (not available)
