Some Things Never Change: Share Price is a Function of Supply and Demand
2023 Q4 Economic and Market Overview The economy continues to grow, albeit at an increasingly slower pace, and has not fallen into recession. Regardless, many economists are still calling for…
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Recession or Not
2023 Q3 Economic & Market Overview The third quarter was the worst of the year for broad stock and bond market indexes, all of which finished lower. Stock prices faltered…
Not as Bad as Some Say
2023 Q2 Economic Overview First quarter economic growth, as measured by gross domestic product (GDP), was reported at a solid 2.0% following fourth quarter GDP of 2.6%. The second quarter…
Process, Process, Process…Results
January 2023 We’d like to dedicate the first client letter in 2023 to “2022 in the rear-view mirror.” This letter highlights how GVIC’s rigorous, fundamental investment process delivered for the…
Outlook: Getting Less Worse
Economic Outlook The US economy contracted during the first and second quarters and is likely to have contracted further during the third quarter. Results will be released on October 27th.…
Darkest Before Dawn: Signs of a Bright Day Ahead
July 2022 Economic Outlook Recent business news headlines read as follows, and summarize the sentiment in the market and among investors: Stocks Close Out Brutal June With Losses as S&P…
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Buckle Up: A Return of Volatility
The year is off to a solid start for Global Value Investment Corp. despite chaos in Eastern Europe and an elevated level of inflation in the US and abroad. Every…
A Return to Normal, Again
2021 was an extremely challenging and financially complex year as the effects of COVID remained and even accelerated during the fall. The much-anticipated Fed interest rate tightening was communicated on…
Steady as We Go
Global economic growth during the second and third quarters remained strong, albeit with signs of modest tempering. The International Monetary Fund (IMF) revised its 2021 full-year guidance down modestly to…
A Return to Normal
Not too hot, not too cold seems to be the prevailing attitude among market participants today. The US economy closed out the first quarter at a red-hot 6.4% annualized rate…
Full Speed Ahead
May 2021 After a roller coaster 2020, the new year is off to a solid start. Full year Gross Domestic Product (GDP), a measure of US economic growth, is presently…
Best Ideas – Concentrated Investing
January 2021 2020 will be a year to remember for its antithetical extremes. As the year concluded, the world celebrated as several new vaccines were developed to address the misery…
Opportunity for Alert Investors
November 2020 2020 has turned out to be an outstanding year in many ways. The extreme variability in market pricing has been among the many notable situations. Not in modern…
The Importance of Investment Discipline
As COVID-19 continued to disrupt economic activity around the world for the majority of Q2, the forward-looking nature of financial markets was on full display as optimism largely pervaded and…
Expect Volatility and Profit from It
Investing in stocks means dealing with volatility. Instead of running for the exits during times of market stress, the smart investor greets downturns as chances to find great investments. You should…
The Silver Lining
COVID-19 took the world by surprise in Q1. In this letter, we will look at how it has affected the markets, and why we are optimistic about the near future.…
Goodbye 2019
2019 Reflections: December was a terrific month for our stock holdings, with our typical stock portfolio rising over 12%. The broad stock market produced a solid result too, increasing 2.9%,…
A Time to be Patient
Outlook: The United States economy is on solid footing, though growing at a modestly slower pace than over the past few years. We think a 2.0% rate of growth is…
How Long Will This Go On?
Outlook: The current economic expansion is now the longest in US history. All indicators suggest the end is not in sight. Although signs of a slowdown have appeared, Fed Chairman…
Déjà Vu
Outlook: Q1 ended on a very positive note with the best quarter of stock performance in many years, despite any substantive economic developments. The US-China trade deal, which was scheduled…