2019 Q4 Quarterly Commentary & Opinion

We have achieved very solid returns in 2019. Our composite total return was a positive 18.20%, which includes our 70% equity position, cash and U.S. Treasury Notes of approximately 26%, along with gold and platinum positions of approximately 4%. Our equity position returned a positive 24.46%. The total returns on the DJIA and S&P 500 were 31.49% and 25.34%, respectively. Download PDF