Dennis Delafield and Vincent Sellecchia discuss the quarterly results of the Delafield Fund for the period ending 09/30/15 in their latest shareholder letter. Read the letter [PDF]
James Hunt, portfolio manager of the Tocqueville International Value Fund (TIVFX), answers questions about the state of the Chinese market and the Fund's investment strategy.
Read it here [PDF]
Conan Doyle fans will recognize the reference to the eminent denizen of 221B Baker Street in the title of this note, but it isn’t for the benefit of Dr. Watson that we are penning this brief. Rather, it is for Dr. Yellen.
Economic stimulation in the form of low rates has been the focal point of pundits and the...
Exchange Traded Funds (ETF’s) have been all the rage the past few years as money has flowed out of actively managed portfolios and into investment vehicles that mirror various indices. After all, portfolio managers rarely outperform the broader stock indices and the overwhelming majority of actively managed portfolios have underperformed...
On August 24, 2015, in the midst of a global turmoil in financial markets, I called one of my earliest clients.
This is a lady whom I do not call frequently, but I was keen to demonstrate, for my younger associates, one of the most important tenets of our profession: When things are going smoothly, clients do not need...
“If it bleeds it leads” the old saying goes, and indeed, roiled equity markets have been front page news every day for about a week now, butting their way into the final days of summer vacations everywhere. Memories of the 2008/2009 crisis, the 2000 dot com bubble burst and even the 1997 Asian Contagion are still fresh in most...
In my observation, there is more than one discipline that can lead to investment success, and some of the proven ones are quite different from each other. The secret to investing successfully, therefore, is to adopt and follow a discipline that is in harmony with your personality.
For my part, I feel in total harmony...
John Hathaway and Doug Groh, co-portfolio managers of the Tocqueville Gold Fund (TGLDX), answer questions about the fund.
Read it here
Kenneth Lee, portfolio manager of TALSX, discusses recent market developments and his outlook for the coming months.
Read it here [PDF]