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Island Investing

Riffs, rants, and the upside of investing from way off Wall Street


Category: For Investors

IIM International Portfolios: Investor Letter for First Half ’19

Mr. Toad’s Wild Ride When I first moved to Florida, circa 40 years ago, I couldn’t wait to go to the Magic Kingdom at Walt Disney World. I loved the scary rides, the roller coasters and in particular Mr. Toad’s Wild Ride, where guests launched through various scenes from The Wind in the Willows.  Depending […]

Save The Date: Investor Meeting on Saturday, June 1

It’s official: we will be holding our annual Investor Meeting here in Islamorada on Saturday, June 1, 2019. More details to follow.

IIM International Portfolios: Investor Letter for Q4 ’18

Skyfall Chicken Little had a point in 2018 – for equity investors, whether in the U.S. or abroad, the sky fell! Political turmoil, rising interest rates and a slowing global economy were credited for pushing the S&P 500 Index and the Dow Jones Industrial Index down  6.2% and 5.6%, respectively.  Digesting U.S. turmoil along with […]

IIM International Portfolios: Investor Letter for Q3 ’18

As discussed in my recent blog post, international investing this year has been like walking through a mine field, as stock prices discounted the implications of tariffs, Brexit and volatile emerging markets. Adding insult to injury, the strengthening U.S. dollar further eroded domestic returns for foreign stocks. Unless otherwise noted, the performance in this letter […]

Brexit or Not to Brexit

Deal or No Deal On September 10th, I headed to Europe with my two-country Eurail Pass and a notebook full of questions for some of IIM’s Swiss and German current and prospective investments. I was especially interested in their perspectives on raw material prices, tariffs and Brexit – unpredictable, but interrelated, issues. Tariffs can be […]

Slides from the 2018 Annual Investor Meeting

Links to download the following PDFs… A transcript of my slide narration My slides on Tarpon and oil You can watch the videos below, or by following these links to YouTube: Video 1: Cale Smith’s Update on Tarpon Video 2: Retz Reeves, CFA, on International Investing Video 3: U.S. Market Outlook Video 4: New IIM […]

IIM International Portfolios: Investor Letter for Q1 ’18

Fears of trade wars and accelerating inflation unsettled international investors in the first quarter of 2018, impacting local returns in most developed regions. The Morgan Stanley Capital Index (MSCI) benchmark for Europe was down 4.35% and the Pacific benchmark was also down 4.14%. Emerging markets were mixed in general, but the MSCI Emerging Market local […]

Update on Yellowtail, Our Small and Mid Cap International Portfolio

Below is our most recent video update on the Yellowtail Folio. Yellowtail is IIM’s small- and mid-cap international portfolio, available to individual investors as well as institutions. In the slideshow below you’ll learn more about Yellowtail’s holdings and recent performance, as well as why we think international stocks look attractive lately. And click here to […]

Two New Slideshows for IIM Investors

We have posted two new slideshow videos on YouTube. The first is my quick take on recent volatility in the stock market: And the second is a video on the highlights of the recent Tax Cuts and Jobs Act: Please let me know if any questions. Thank you. – Cale

Post-Irma Update

Dear Investors, The Islamorada Investment Management office will re-open this Tuesday. Retz, Maria and I returned to Islamorada from Orlando over a week ago, and we have spent most daylight hours lately assessing, helping, and most of all, cleaning. Most evenings, I have been able to stay reasonably informed about news at our companies and […]