Investment Strategy Outlook (ISO) Letters

Following each calendar quarter, our portfolio managers compose an Investment Strategy Outlook (ISO) letter, which we forward to all of our clients and friends. In these letters, we discuss the previous quarter, current trends in the market, and our outlook for the coming months.

Our Q1 and Q3 letters generally discuss a few of the holdings in our portfolios, including the nature of each business, valuation, and management, as well as our investment thesis. The Q2 and Q4 letters typically cover macroeconomic and stock market information.

If you would like to be added to our distribution list, please email us at