Newsletters
August 1, 2026
August 2026 Newsletter
July was challenging. Major stock indexes were generally flat to down. The tech-heavy Nasdaq fell sharply with several prominent stocks facing steep declines.
The moves we made since May to reduce equity exposure, especially to tech/AI and momentum names, helped – but our portfolios generally faced small losses in July. We remain close to all-time highs and took advantage of volatility by using some of the cash we had raised to selectively buy.
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