ACM Commentary 2Q 2019

ACM Commentary 2Q 2019 Download PDF This year started off with a bang for Alamar. Three of our stock holdings were purchased for large premiums. We cannot recall a time when this has occurred over our 10-year history. Given the nature of our holdings – good...

ACM Commentary 4Q 2018

ACM Commentary 4Q 2018 Download PDF The year 2018 will go down as one for the ages. Every major asset class and equity market around the world declined. After 9 consecutive years of gains, the S&P500 dropped 4.4% last year. For our part, we produced positive...

ACM Commentary 2Q 2018

ACM Commentary 2Q 2018 Download PDF Despite good earnings fundamentals, the S&P500 is up only 2.6% through the end of the 1st half, probably due to fears of rising rates and possible trade wars. As in prior years, most of the gains have come from the FAMAA...

ACM Commentary 4Q 2017

ACM Commentary 4Q 2017 Download PDF The rally since the November 2016 elections has continued more or less unabated, until recently. The passage of tax reform has added more fuel to the stock market fire. The S&P500 was up 21.8% in 2017 while Alamar Equity gained...

ACM Commentary 3Q 2017

ACM Commentary 3Q 2017 Download PDF The S&P 500 was up 4.5% in the 3rd quarter, its 8th quarter in a row of gains. The index was up 14% through the third quarter, and has not posted a negative annual return since 2008. In that time, it has now provided a...