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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 occur periodically in the economic cycle. We try to remain philosophical and focus on patient investing that will pay off when the market rebounds. In these times is it more important than ever to understand what’s really driving the economy. Therefore, we’ve focused this letter on that topic. We also take a critical look at the latest happenings in the crypto space and conclude by revealing the "secret sauce" for great investing.









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