March 13, 2015
Once a month, we publish EVA in the Evergreen Exchange format. This issue should be a particularly unique exchange of ideas, because Tyler Hay, Jeff Eulberg, and David Hay each selected an influential investment mind whose approach they admire. Aside from explaining the motivation for the individual they chose to write about, each author will also recap the current outlook of their choice. Our hope is to provide insight into how these luminaries view financial markets and investing in general. Read More
Evergreen Exchange
Once a month, we publish EVA in the Evergreen Exchange format. This issue should be a particularly unique exchange of ideas, because Tyler Hay, Jeff Eulberg, and David Hay each selected an influential investment mind whose approach they admire. Aside from explaining the motivation for the individual they chose to write about, each author will also recap the current outlook of their choice. Our hope is to provide insight into how these luminaries view financial markets and investing in general. Read More
March 6, 2015
“This is a brand new world where money and bond markets are broken and the time value of money in some cases is being totally violated.” – Leading economist, David Rosenberg Special message: Before we get into the main text of this month’s full-length edition, I wanted to… Read More
Evergreen Virtual Advisor
Special message: Before we get into the main text of this month’s full-length edition, I wanted to mention that we’ve had a format change. Our Points to Ponder (PTP) section, which also ran monthly, is now being replaced by a daily Tweet. To access those, please follow us @EvergreenGK. We will also be adding one PTP to our Daily that goes out to Evergreen clients. If you are an Evergreen client and would like to receive our Daily, please email Lindsay Hall: lhall@evergreengavekal.net. We started it, but they’re finishing it. Twice in recent years, I’ve been fortunate enough to listen to famed demographer Neil Howe address John Mauldin’s Strategic Investment Conference (SIC) in San Diego. Neil’s talk stood out both times even among the star-studded array of speakers at the SIC. I was particularly fascinated by his presentation in 2013 in which he made a thoroughly convincing case for why this decade bears a remarkable resemblance to the 1930s. As time has passed since then, domestic and global events have, in my opinion, further buttressed his thesis. The 1930s began in the shadow of a resounding crash in global financial markets at the end of the prior decade. Unemployment soared—as high as 25% in some countries—and stayed excruciatingly high for an extended period. The economic distress led to the rise of extremist political parties on both the right and the left. Read More
February 27, 2015
IMPORTANT DISCLOSURES This report is for informational purposes only and does not constitute… Read More
February 20, 2015
“Investors should pay attention not only to whether but also to why current holdings are undervalued. Look for investments with catalysts that may assist directly in the realization of underlying value.” – Iconic value investor, Seth Klarman Future glow. Unquestionably, one of the worst enemies for most investors is… Read More