First Quarter 2023 Letter to Investors
The recent events in the banking industry are already being called a “Global Banking Crisis.” We’ve received a number of questions about...
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Fourth Quarter 2022 Letter to Investors
For most investors, 2022 was a year they would like to forget. Stocks were down. Growth stocks were way down. Bonds had their worst year...
Third Quarter 2022 Letter to Investors
What a difference nine months can make. At the beginning of this year we expressed caution about the surfeit of optimism among investors;...
Second Quarter 2022 Letter to Investors
This past quarter we entered a bear market, and we may be headed for a recession. That’s never good news for investors but these events...
First Quarter 2022 Letter to Investors
It’s difficult to be excited about investing during a quarter when both stocks and bonds are trending down while inflation is ratcheting...
Fourth Quarter 2021 Letter to Investors
What's ahead for 2022? The Midway Capital team takes out our crystal balls, tarot cards and our issue of the Old Farmer's Almanac for a...
Third Quarter 2021 Letter to Investors
The market returns this quarter might not set your heart afire, but that is no indication that we’ve had a boring three months in the...
Second Quarter 2021 Letter to Investors
Is cryptocurrency an investment or a speculation? This month we take on crypto and detail the reasons for why we don't currently...
First Quarter 2021 Letter to Investors
Is inflation on the horizon? This is the hottest topic being debated among economists right now. We offer evidence that inflationary...
Fourth Quarter 2020 Letter to Investors
Value investing has been out of favor for many years but 2020 was the year where we saw the growth-value divide widen most substantially....
Third Quarter 2020 Letter to Investors
As this very unusual year progresses, things have become even more interesting and perplexing. The Fed has poured money into the economy,...
Second Quarter 2020 Letter to Investors
Why is the stock market going up when the economy is clearly in recession? We answer this question and explain why Wall Street seems to...
First Quarter 2020 Letter to Investors
Corona virus hit with a bang and the stock market reacted. We talk about how we're investing in this situation. Then we take on the...
Fourth Quarter 2019 Letter to Investors
Wrapping up 2019, a great year for the stock market, we explore stock valuation and risk factors. We delve into $0 commissions and find...
3rd Quarter 2019 Letter to Investors
Strange things are brewing in the investment markets. This month we talk about the case for negative interest rates and why they might...
2nd Quarter 2019 Letter to Investors
It’s been a great year for the markets so far and an excellent quarter for our portfolios as well. We never take our eyes off the risk...
1Q 2019 Letter to Investors
What a difference a quarter can make! We examine volatility and acknowledge it as part of life for an investor. We look at a study that...
4Q 2018 Letter to Investors
After a stock market rout during the last few months of 2018, we gaze into our crystal ball to find out what is in store for 2019 and...
3Q 2018 Letter to Investors
Economic uncertainty is the theme of this quarter's letter. We talk about how the trade was is impacting everyday life now that tariffs...
2Q 2018 Letter to Investors
US Tariffs are beginning to bite and we worry that these unwise trade barriers could cause a sell-off in the stock market, as well a...
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