January 2015 Investor Letter

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Below is a letter that is written monthly for the benefit of Avondale Asset Management’s clients. It is reproduced here for informational purposes for the readers of this blog.  If you are interested in receiving this letter monthly by email, … Continued

December 2014 Investor Letter

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Below is a letter that is written monthly for the benefit of Avondale Asset Management’s clients. It is reproduced here for informational purposes for the readers of this blog.  If you are interested in receiving this letter monthly by email, … Continued

Earnings Picture After 3Q14

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95% of the S&P 500 has reported third quarter earnings now, so it’s worth checking back in on what the earnings picture looks like after the most recent round of reports. The chart below shows where earnings and sales per … Continued

Length of Bear Market Rallies

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Bear Market Rallies (times that the market rises during a bear market) are some of the sharpest types of advances that markets experience.  They are buying panics fueled by short covering and fear of missing out on a recovery. In the … Continued

Years Similar to 2014

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2014 has been an interesting year for the S&P 500 in that the index has steadily climbed higher throughout the year, not too fast and not too slow.  Even though this year’s pattern is actually much more realistic relative to the … Continued

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