4Q 2020 Market Commentary

In investing, as in life, you can’t know what you don’t know. Too often, it’s the things you don’t know (and couldn’t have known) that throw a monkey wrench into your plans. And we can’t know everything. As investment managers, there is a forward-looking aspect to what we do. We are expected to somehow be able to predict the future. But the truth of the matter is that predicting the future is impossible. When asked what the New Year might bring, the truest answer an investment manager can give is, “I don’t know.”

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