Review & Outlook

April 11, 2022

During the quarter, the speed and magnitude with which narratives have shifted in both Bond and Stock markets since year end has been remarkable. Growth stocks went from a highly prized treasure to a dispensable asset. As a result, our stocks fell on average 12% as investors rotated toward lower quality cyclical and energy related sectors. In our view, the market’s reaction to rising interest rates and commodity prices have ignored the attractive relative fundamentals and prospects, both of which remain far stronger for our Quality Growth stock holdings.

Review & Outlook

April 11, 2022

During the quarter, the speed and magnitude with which narratives have shifted in both Bond and Stock markets since year end has been remarkable. Growth stocks went from a highly prized treasure to a dispensable asset. As a result, our stocks fell on average 12% as investors rotated toward lower quality cyclical and energy related sectors. In our view, the market’s reaction to rising interest rates and commodity prices have ignored the attractive relative fundamentals and prospects, both of which remain far stronger for our Quality Growth stock holdings.