Friday, December 07, 2012

Cliff Diving, or Not

We have received scores of questions regarding our view of the approaching fiscal cliff.  In our most recent quarterly letter, we shared our general thinking that the stakes were too high for the current stalemate in Congress to continue.  However, we did mention that there was a good chance there would be no deal by December 31.  Today we sent out an email blast to all of our clients with a more complete discussion of our views and how we have positioned our clients' portfolios in the face of the many unknowns surrounding the stalemate.  

The following is a link to that email via our website.  The stakes are high enough that we wanted to share with our many long-time readers our complete line of thinking.  As always, this is for information purposes only.  We know there are thousands of pundits in media land who will disagree with every point we make.  That is what makes a market.

You may need to copy this link into your browser to activate it.