Author Archives: Cale Smith
Seven Insights for the Second Half of 2020
From an email sent to IIM investors on July 2, 2020: After collapsing by 22 million in March and April, 4.8 million workers returned to work in June, according to this morning’s jobs report – significantly more than the 3 … read more…
Posted in Commentary, For Investors
Tagged coronavirus, long term investing
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Letter to Investors: Tarpon Folio – June 2020
Dear Tarpon Investors, Several quick notes before updating you on Tarpon: 1. The topics I was hoping to cover in this year’s Annual Investor Meeting will be delivered via a series of emails later this summer. 2. Goldman Sachs is … read more…
Posted in For Investors
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Historic Unemployment and the Months Ahead
From an email sent May 13, 2020: Good morning, IIM investors. Given the nature of this COVID crisis, recent unemployment numbers are particularly important to understand. Below is some context for how we’re thinking about them. It’s also the time … read more…
Posted in Commentary, For Investors
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