3Q21 AFS Quarterly Playbook Preview:
Quarterly Playbook - 3rd Quarter 2021
“Land of the midnight sun”
During summertime in Alaska, there are 23 hours of daylight. Creating a very odd feeling that really messes with your rational. It feels like morning even when its midnight. A surprisingly similar feeling to present day market conditions, where we find ourselves dealing with rare circumstances that require adaptive thinking. However, if navigated correctly, you can see pure beauty in what was supposed to be darkness.
"I now walk into the wild.” ― Christopher McCandless, Into the Wild
2Q21 AFS Quarterly Playbook Preview:
AFS Quarterly Playbook - 2nd Quarter 2021
“Assessing the lay of the land”
We have been so focused on getting to this point that we find ourselves in unfamiliar territory. It is time to take a closer look at our surroundings. Just like the adventurer that has many miles under their belt and needs to mark their location, investors need to also assess their positions.
“Some beautiful paths can’t be discovered without getting lost.” – Erol Ozan
1Q21 Quarterly Playbook Preview:
Quarterly Playbook - 1st Quarter 2021
“2021: A transition year”
2020 was a year like no other and felt a bit like we were in The Matrix. While there were some silver linings, it is one year that we are glad is over. In 2021, we will be transitioning in many ways, with politics, with economics, with COVID, and even with our personal lives. Hopefully the changeover goes smoothly but it’s likely that there are some bumps along the way. We expect the first part of the year to be a period where the world is finding its way back closer to normal. However, our view is that we end 2021 in a mostly positive fashion…
“Ever have that feeling where you’re not sure if you’re awake or dreaming?” ―Neo from the Matrix
4Q20 Quarterly Playbook Preview:
Quarterly Playbook - 4th Quarter 2020
“Head down, Stay focused”
As we race toward the finish of 2020, there have been plenty of caution flags and even a restart, but it appears we are now racing again under green flag conditions. Sparks will surely continue to fly but we can’t afford to be distracted coming down the home stretch.
“It’s easy to keep focused when you are in a comfortable environment, but when things aren’t going as planned, it’s important to keep in control of your emotions"
- Lewis Hamilton, World Champion Formula One Driver
3Q20 Quarterly Playbook Preview:
Quarterly Playbook - 3rd Quarter 2020
“The road back to normal”
What a strange journey we have been on so far this year, and continue to wonder what lies ahead. At this point, our map has flown out of the window and we are now purely relying on our “gut feeling” of where to turn next. That said, “gut feelings” are rooted in fundamental knowledge and instincts that make up the core of our understanding. With the right discipline, our instincts can prove very useful in times of uncertainty and can allow us to get back on the right road…
“There was nowhere to go but everywhere, so just keep on rolling under the stars.
― Jack Kerouac, Author of On the Road