2020 Shareholder Engagement Newsletter

2020 Shareholder Engagement Newsletter

2020 was in one word: extreme. An extreme global health pandemic, climate change events, and social and political unrest. This challenging time has forced companies to look inward and use their platforms to make a difference, for their employees, shareholders and...
April 2021

April 2021

The first quarter of 2021 has been a period of extraordinary transition. At the start of the year, the seven-day pace of vaccines administered in the United States was averaging just over 325,000 doses a day. As of this writing, the U.S. is administering more than 3...
January 2020

January 2020

Our focus has always been to avoid risk and focus on innovative opportunities that can generate sustainable earnings growth. In a world where we must cut carbon emissions, fossil fuels will continue to be losers and renewable energy and electric autos will, over time,...
October 2019

October 2019

Ninety percent of disappointment is expectation. The election of Donald Trump in 2016 and the promise of reduced regulation, more business-friendly policies, and tax reform sparked extraordinary expectations for economic growth in the United States. From the week...
April 2019

April 2019

Over the last few years, we have been describing the hyperactive U.S. equity market as the adolescent in the room – and characterizing the seemingly immoveable U.S. Treasury market as the grownup. After a 2016 U.S. election that promised tax cuts and reduced...
April 2019

January 2019

Where do we go from here? With one year ending and another beginning, there are expectations of enlightenment. As the calendar turns, we believe we can briefly pause, reflect, and offer wisdom that was not present previously. In reality, successful investing is about...