Less Is More

Investors,

There is a lot to cover, but I also continue to believe that “less is more” in this market.

This report will approach the market from that perspective, focusing on a few key themes to interpret broad-market trends and how we should view market conditions.

I won’t add any fluff to this report, so I think it’s important for you to read it in its entirety, but if you only have a few minutes, I’d encourage you to start with this executive summary: