December 31, 2024 Quarterly Letter
The macroeconomic environment has been surprisingly resilient in the face of restrictive monetary policy sending market indexes to near euphoric levels. What risks lie beneath the surface of current market levels?
September 30, 2024 Quarterly Letter
The macroeconomic environment has been surprisingly resilient in the face of restrictive monetary policy sending market indexes to near euphoric levels. What risks lie beneath the surface of current market levels?
June 30, 2024 Quarterly Letter
What does North Carolina barbecue have in common with value investing? The barbecue in NC is a tale of two tastes – a sauce with ketchup or without, while value investing is a tale of two disciplines – Absolute Value and Relative Value. In his new quarterly letter our CEO, J. Dale Harvey, dives deeper into these two topics and shares additional insights on the economy, markets, and our portfolios. Enjoy!
March 31, 2024 Quarterly Letter
Good barbecue takes quality ingredients and patience. So does generating strong long-term investment results in value companies. Enjoy our quarterly letter where our CEO, J. Dale Harvey, shares his thoughts on the current market environment..and tasty barbecue.
December 31, 2023 Quarterly Letter
Three things that are successfully unwavering in the face of change: the Rolling Stones, Warren Buffett & Charlie Munger, and Poplar Forest Capital. Surprised? See the timeless similarities each of them in J. Dale Harvey's recent quarterly letter.
Questions of Value — Are investors being compensated for the risk of a weakening U.S. consumer?
As we head into the holiday seasons, the health of the U.S. consumer is top of mind. In this memo, we discuss our approach to navigating a potential slowdown in consumer spending.