For the six months ended June 30, 2017, RVP Durable Income generated a 6.15% net return vs the Barclays High Yield Index Benchmark return of 4.93%.  Since inception (June 1, 2014), Durable Income has generated a 9.12% annualized net return vs the Barclays High Yield Index’s annualized return of 4.64%.  Durable Income invests in exchange traded, income oriented securities with the underlying goal [Read more…] about Durable Income Strategy Investor Letter – July 2017

The market has scaled dizzying heights over the last 8 years.  Rallying in the face of political gridlock, stretched valuations, and a tightening Fed, the market is as undaunted as Spiderman swinging through Manhattan’s skyline. The rally may hang on longer, but [Read more…] about Spiderman Rally: Climbing a Wall of Worry – Investor Newsletter – 2017 Q2

For the quarter ended March 31, 2017, Durable Income generated a 3.91% net return vs the Barclays High Yield Index Benchmark return of 2.70%.  Since inception (June 1, 2014), Durable Income has generated a 9.14% annualized net return vs the Barclays High Yield Index’s annualized return of 4.27%.  Durable Income invests in exchange traded, income oriented securities with the underlying goal [Read more…] about Durable Income Strategy Investor Letter – April 2017

The parents (markets) are enjoying a tranquil period. The volatility index (VIX) is low, and stocks and bonds both posted positive returns for the quarter. The kids (Democrats and Republicans) are fighting again, but the markets seem to vacillate, from believing stimulus and reform are coming [Read more…] about A Long Cocktail Hour – Investor Newsletter – 2017 Q1

For the year ended December 2016, Durable Income generated a 21.27% net return vs the Barclays High Yield Index Benchmark return of 17.13%. Since inception (June 1, 2014), Durable Income has generated an 8.44% annualized net return vs the Barclays High Yield Index’s annualized return of 3.62%. Durable Income invests in exchange traded, income oriented securities with the underlying goal [Read more…] about Durable Income Strategy Investor Letter – January 2017

The quote from America’s most famous fictional Marine, Gomer Pyle, comes to mind when reviewing events of 2016. The year got off to one of the worst starts ever as the S&P 500 dropped 11% in the first six weeks and oil traded below 30 dollars per barrel. The Brexit vote in June proved all the pundits wrong. Finally, the election of Donald Trump to be the 45th President of the United States certainly was the ultimate surprise [Read more…] about “Surprise, Surprise, Surprise” – Investor Newsletter – 2016 Q4

For the first nine months of 2016, the Durable Income Strategy performed well. Durable Income generated a 16.64% net return vs the Barclays High Yield Index Benchmark return of 15.11% [Read more…] about Durable Income Strategy Investor Letter – October 2016

For all the ongoing market concerns, the 3rd quarter ended with higher asset values. At the start of the year, we felt strongly that the economy was not going to slide into a recession and the FOMC would not raise rates four times [Read more…] about Patience Rewarded – Investor Newsletter – 2016 Q3

For the first half of 2016, the Durable Income Strategy performed well in a volatile market environment. Durable Income generated a 9.48% net return vs the Barclays High Yield Index Benchmark return of 9.06%. Since inception (June 1, 2014) [Read more…] about Durable Income Strategy Investor Letter – July 2016

Listening to this song on July 4th, we were feeling particularly patriotic. Living in the USA has numerous benefits: freedom being the most obvious and, arguably, the most treasured. A less celebrated benefit is the US economy which continues to chug along with much less volatility than China, Japan or Europe [Read more…] about “Living in the USA” – Investor Newsletter – 2016 Q2