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    Public Letters

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    2019

    Year-End Letter (Tax)*

    Mid-Year Letter (GLS)*

    2018

    Year-End Letter (GLS, Intrinsic Value)*

    Mid-Year Letter (GLS)*

    2017

    Year-End Letter (GLS, Diversification)*

    Mid-Year Letter (US Equity Bubble)

    2016

    Year-End Letter (Bond Misconceptions, China)

    Mid-Year Letter (Fire and Finance)

    2015

    Year-End Letter (Bond Bubble, Gold)

    Mid-Year Letter

    2020

     Year-End Letter (US Real Estate Bubble, Gold Supply)* 

    Mid-Year Letter (Bond Bubble, Cryptocurrencies)*

    2021

     Year-End Letter (Bond Misconceptions II)*

    Mid-Year Letter (China)*

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