Portfolio Update & Opportunities From Volatility

November 2018 Newsletter | In this newsletter we discuss the performance of the portfolio over the last three months. In our experience, negative markets tend to drag down most stock prices, in the short term, somewhat irrespective of the underlying business performance. Correlations to market movements tend to increase and flow of funds becomes a larger driver of performance than fundamentals. This can lead to periods of short term volatility even from conservatively positioned portfolios. However, these time periods also provide the ideal opportunity to purchase additional investments at attractive prices.