Client Updates

April 28, 2020:  Yesterday we sold all or part of two investments, not primarily because there were any new developments operationally, but rather because we feel we will be able to reinvest the proceeds of these sales in other investments at much more attractive prices.  A large number of earnings reports for the first quarter of 2020 are due out over the next two weeks, and we will use these reports to help guide our reinvestment choices. 

April 9, 2020:  On Friday, April 10, the markets will be closed for Good Friday.  As a result, we will be closed, too.

April 8, 2020:  Brookfield Asset Management (BAM) split its shares three-for-two earlier this month.  This means the March 31, 2020 number of (pre-split) shares in your account is now 50% greater, and the per-share stock price is correspondingly lower.  BAM primarily invests in income-producing "alternative" investments--including infrastructure assets, renewable energy facilities, port facilities, etc.

April 2, 2020:  April's client letter will be mailed shortly.  To read it now, click this link:   April 2020 Client Letter

April 1, 2020:  Recently, the CARES Act was enacted, and we have seen reports that required minimum distributions (RMDs) from some retirement accounts have been waived for 2020.  If this could affect your plans for retirement account distributions, you may want to consult your tax adviser soon.

March 25, 2020:  Colorado Governor Jared Polis has issued a “stay at home” order for the state of Colorado.  We understand that essential businesses, including those such as J. V. Bruni and Company in financial services, can remain open under this order.  In the unlikely event that we are required to close our main office, we will operate from our backup location.  If your phone call to our office is not answered, please leave a brief, clear message and call-back number.  We will call you back.

March 24, 2020:  The average daily volatility of the S&P 500 index was approximately 0.57% in 2019.  Over the last 30 days, that figure has jumped to about 4.56%.  Moreover, the large-cap S&P 500's recent volatility has understated that of mid-sized and smaller stocks--which is typical.  We focus on bargains wherever we find them, and thus we own large-cap, mid-cap and small-cap stocks in our pursuit of superior long-term results.  With market volatility (and fear) come opportunities.

March 23, 2020:  Our normal means of communicating to our overall clientele is through our monthly letters--and sometimes additional updates at mid-month.  Our most recent mid-month update was mailed today.  If there is a need for additional communication for the benefit of all clients, we will use this section of our company website.