Q1 2021 (and Q3, Q4 2020) Letters

I’ve been lazy about posting my public letters.  Here they are!  Hopefully I will be able to get back to putting some new content up here in 2021.

FY 2021

2021-05-13: Q1 2021: The Past is Only the Future with the Lights On

FY 2020

2021-02-14: Q4 2020 Letter: Mr. Market

2020-11-17: Q3 2020 Letter: The Old Normal