Q4-21 – Over in an Instant:
2021 A Year Well Spent Living in the Moment
For as long as the year 2020 seemed to last with a toxic cocktail of worsening news about the Coronavirus, rolling lockdowns, and a particularly contentious political season, the following year, 2021, seemed over in an instant. 2021 was truly a year of living in the moment.
Q3-21 – Some More Normal
with a Side of Inflation
Our second quarter letter was titled "Revenge of the Normal," appropriately describing market conditions that had transitioned from the COVID wall of worry to future growth expectations in a post-COVID world. If the second quarter was revenge of the normal, the third quarter could most aptly be described as "some more normal with a side of inflation."
Q2-21 – Revenge of the Normal
The second quarter of 2021 had a "revenge of the normal" vibe reverberating through April, May, and June. Increased vaccinations brought many re-openings and a rally in capital markets. But as we know, everything can't be perfect. We are also seeing an uptick in the new Delta variant of COVID-19 and struggles with appropriate interest rate and inflation levels.
Q1-21 – Time + Vaccines =
A Return to Normalcy Within Sight
How far we have come in a year! Capital markets have recovered and vaccines are being administered. While we aren't out of the woods yet, there is certainly a light at the end of the tunnel.