BOAT - Fall 2022 Investor Letter: What Is The Good News

Summary

• The current investing environment has been especially challenging due to the fact most investment vehicles have generated a negative return this year.
• At current equity market levels and given the extent of the three-quarter decline this year, historical market performance suggests investors with a one to three-year time horizon could experience positive returns in the future years.
• While the short-run environment could continue to be challenging, we believe valuation adjustments are occurring that are beginning to present opportunities for attractive long-term investments.

For further details see: