Predicting is futile. Buy businesses that have proven resilient through the inevitable storms. Investors are now being reminded of the critical importance of business durability.

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Correlation Does Not Equal Causation

Correlation Does Not Equal Causation

The danger of investment products built on back testing. Markets continuously evolve and factors that seemed to have worked in the past may not work going forward.
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The vast majority of factors across society and around the world have improved massively for decades. Betting against long term progress is a loser’s game.
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Davis Select US Equity ETF (DUSA) PM Commentary with Chris Davis

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How we outperformed the benchmarks in 2025 while underweighting the “Mag 7”; where we see biggest opportunities now and bubbles to avoid
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Investor Education
A Market Correction is an Opportunity.
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