DM Portfolio Commentary – Q3 2024

Regime Change – In the final paragraph of our first quarter letter, we wrote:
‘In the next issue of this commentary, we could very well be talking about a quarterly decline for your equity allocation, and it may be more than just a speed bump. History and the well documented mistakes of others, however, tell us that our best course will be to stay put, regardless of how bleak things might seem in the moment or how tempted we are to try and outsmart the market.’

While the three months immediately following that report passed without incident, it looked like our warning might be coming to fruition halfway through Q3.

Click here to read more:  DM Portfolio Commentary – Q3 2024