Dear Partners, Markets continued to experience significant volatility in the first quarter of 2023. Inflation worries, recession risks, and the first bank failure in over 15 years all contributed to more underlying equity weakness than apparent in the headline numbers. Indices were largely held up in the quarter by significant outperformance in Mega-cap Technology –...
Dear Partners, This past year has been one of the worst for asset markets in over a decade and our core GCI Select Equity strategy was no exception – posting disappointing results. As you know, GCI was founded on the principle that investing in high-quality companies at attractive prices is the most durable and consistent way...
Dear Partners, Our performance in the third quarter of 2022 was disappointing. Our GCI Select Equity composite ended the quarter down 32.66% YTD gross of fees, trailing the broader market. This is a significant drawdown in isolation, but also not entirely unsurprising to have some weakness after almost a decade of very strong returns. Individual account...
Dear Partners, Our performance in the first half of 2022 was disappointing in many respects. The S&P 500 had its worst start to the year in over 50 years. Bonds fared no better, with the 10-year treasury reaching its highest yield since 2011. To put this into context, below is a chart of intra-year peak to...
Dear Partners, Our GCI Select Equity composite ended the quarter -10.69% gross of fees. For context, the S&P 500 ended the quarter -4.60: Individual account performance may differ based on asset mix and timing of investments. Underperforming the market is never welcome, but over such a short period of time is of little consequence. We at GCI...
Dear Partners, We are pleased to report another positive year of absolute performance with our strategy (see product page) up 28.60% gross of fees. Individual separate account performance may differ based on asset mix and timing of investment- the above numbers are for the strategy composite as a whole. You will have likely noticed that we...
GCI Select Equity Q3 2021 Dear Clients, We are pleased to report that our GCI Select Equity strategy ended the third quarter of 2021 up 16.7% year-to-date (gross of fees). As you know, we spend little time discussing short term performance as it is not helpful in measuring a long-term strategy such as our own. So, while...
GCI Select Equity Q2 2021 We are pleased to report another positive quarter in both absolute and relative terms. Our GCI Select Equity strategy ended the first half of 2021 up 18.1% gross of fees. For comparison, the S&P 500 ended up 15.3%: Despite these continued positive results, you will likely have noticed that in a...
Dear Clients, We are pleased to report another positive quarter in both absolute and relative terms. Our GCI Select Equity strategy ended the first quarter of 2021 up 8.01% gross of fees. For comparison, the S&P 500 ended the quarter up 6.17%. Over a trailing three-year period, our strategy has now compounded client capital at a...
Dear Clients, We are pleased to report that 2020 was another positive year for performance in both absolute and relative terms. As you know, Globescan Capital was founded on the principle that investing in high-quality companies at attractive prices is the most consistent way to achieve long-run, risk-adjusted returns. As such we do not overly concern...
