Firm policy is we don’t share quarterly letters beyond our client base. We consider these communications special and more personal, reserving them only for Hill Investment Group client relationships. We decided that a modified version of the most recent letter could be shared because the lessons are especially relevant to investors at large.
“You know we don’t make forecasts, but we also acknowledge that no one likes total ambiguity regarding what’s to come. This quarter’s letter is a short statement about what respected thought leaders are saying we should expect in the form of future returns, and what you can do about it.”
