3Q 2021 Market Letter
SMOOTH SAILING OR ROUGH WATERS?
These are strange times to be at the helm of an investment portfolio. Strange because the sheer number of dimensions that uncertainty has taken on over the past year has produced a daunting web of choose-your-own-adventure, if-thisthen-that complexity sufficient to cause even the most level-headed investor to want to question even the most basic assumptions. Strange because most days, the market doesn’t even seem to notice any of this, as stocks hover around their all-time highs.
