CURRENT NOTES
Monthly Note
- March 2025: To tack, or NOT to tack…Is that the question??! (3/30/2025) - “Inflation remains elevated, with a short term set up to the disinflationary side over the next few months … and growth is sending mixed signals, with quite a bit of uncertainty out of Washington, especially pertaining to labor markets … what was most probabilistically a stagflationary investing environment has (at least for the short term) pushed into a disinflationary one.” ~ OSAM, February 2025 Recap Last month we conveyed our thoughts on how to approach markets via sound risk management through sailing terminology and nautical analogies like luffing, tacking and heeling … a theme which we will continue this month… Continue Reading
Quarterly Report
- Q1 2025: The Perfect Storm… (4/30/2025) - “Luffing” is a tactic that can be used. Luffing is the act of turning the bow of the sailboat upwind (windward) in an effort to reduce speed! (one could also ease the sheet controlling the sail past “optimal” trim allowing air to flow over the sail creating the luff). The more your vessel is positioned heading directly into the wind, the more the sails will “luff” … or simply flap back and forth … which will either bring the vessel to a stall or tack (the act of flipping your sails to the other side of the boat, filling them… Continue Reading
