Quarterly Newsletters


All ValueAligned® investors receive our quarterly letters. Explaining our thoughts is just another way that we promote transparency.

If you have any questions about the retirement planning news mentioned in our archived quarterly letters, don’t hesitate to contact Berk at 732-800-2375.

2018 Quarterly Newsletters

Q1: Let’s review our investing principles, Just a temporary interruption of the permanent uptrend


2017 Quarterly Newsletters

Q4: Chance of A Crash Is Increasing: The ValueAligned® Hedged Strategy, Unprecedented Persistence, and Strength of the Market’s Trend

Q2: Trump Trade is Dead or Underpriced; The Golden Age is Here, Next Stop: 65,000 on the Dow in 20 Years

Q1: Value of Avoiding Large Losses; Obamacare, Taxes and Managing Political Risk

2016 Quarterly Newsletters

Q4: Growth Wins; Stocks at Serious Risk

Q3: The Election as a Referendum on Growth or Redistribution

Q2: Time for a Choosing Again: Reversing the Decline in Economic Freedom

2015 Quarterly Newsletters

Q3: A Valuable Perspective Into Value Stocks

Q2: A Gradual Warming Trend

Q1: Removing Fear From Retirement Planning

2014 Quarterly Newsletters

Q4: Republican Landslide Nearly Completes the Transition to the Golden Age

Q3: Dollar Index Rises to Highest Level in Years

Q2: Reduced Exposure, But With Bias Toward Stocks

Q1: Stocks High, Volatility at Five-Year Low, According To VIX Index

2013 Quarterly Newsletters

Q4: Stock Prices, Sentiment, Breadth, and Seasonality: Their Weakness Is Our Strength
Q3: Government Interference and the Slow-Growing Economy 

Q2: Market Rally Contributing Factors: Size, Sectors, and Value Stocks  

Q1: Risk Higher than Normal, Though Fiscal Cliff Avoided 

2012 Quarterly Newsletters

Q4: Guiding Factors for Stock Market Exposure: Sentiment, Monetary Liquidity, and Valuation

Q3: The Demise of Wealth Creation: U.S. No Longer Honors Value-Added Growth

Q2: Market Reversal: Big Stocks Beat Small Stocks

Q1: Media Touts Market Frenzy, We Urge Full Exposure to Stocks of Great Companies

2011 Quarterly Newsletters

Q4: Big Government vs. Big Business: the Downgrading of National Debts 

Q3: Super-Bearish Sentiment Means We’re Bullish for Stocks of Great Companies

Q2: Understanding the “Smart/Dumb” Confidence Spread 

Q1: Stock Market Fluctuations: Learning to Live with Uncertainty

2010 Quarterly Newsletters

Q4: Increasing Value-Per-Share: Re-Purchasing, Selling, and Spinning-Off Assets

Q3: Stock Market Turbulence: Power, Pullback, and Profitability

Q2: Stock Market Returns and the Influence of the Business Cycle 

Q1: Volatility Reduced, Despite Stock Market Investor Fear 

2009 Quarterly Newsletters

Q4: Still Riding the Rollercoaster: Recovering Last Year’s Losses 

Q3: Worldwide Monetary Stimulus Stirs Emerging Markets’ Engines 

Q2: March Rebound: Stocks, Corporate Bonds, and Commodities 

Q1: Valuing Stocks of Great Companies in the Obama Era

2008 Quarterly Newsletters

Q4: Stock Market Better, Despite Blowups and Bankruptcies 

Q3: Housing Market Meltdown Overwhelms Bullish Forecasts

Q2: Inflation: Death of ‘King Dollar’ and Decline of the Republic?  

Q1: Stagflation: Is the Stock Market Headed for a Slowdown or a Recession? 

2007 Quarterly Newsletters

Q4: Stock Market Golden Rule: Buy from the Fearful, Sell to the Greedy

Q3: Herd Warns of Doom, Yet Stock Market Rallies

Q2: Despite Skepticism, Growth Stocks of All Sizes Outperform Value

Q1: Stock Market Volatility: A Good Time to Be 100% Invested in the Stock Market

2006 Quarterly Newsletters

Q4: Value-Aligned Companies: A High Return On Capital, Without Cutting Prices 

Q3: How The Fed Either Feeds or Starves Monetary Growth

Q2: Recognizing Low-Risk Stock Market Entry Points

Q1: When Will Consumer Fear Cause a Stock Market Correction? 

2005 Quarterly Newsletters

Q4: Rebuilding Confidence After the Technology Stock Crash

Q3: Stock Market Shows Resilience Despite Plunging Political Confidence

Q2: Increasing Our Exposure through General Stock Market Risk

Q1: Consumer Optimism Thwarted By Bad Weather, Speculative Buying

2004 Quarterly Newsletters

Q3: Honoring Mutual Funds Pioneer William “Bill” Berkowitz

Q2: Testing Our Resolve: Inflation, Interest Rates, and Terrorism on the Internet

Q1: Bulls and Bears in Tug of War as Market Psychology Swings

2003 Quarterly Newsletters

Q4: VBM Corporate Governance vs. the GAAP Accounting Framework

Q3: Understanding Value-Based Management (VBM) and Economic Value-Added (EVA) Companies 

Q2: After the Fiscal Stimulus: Achieving Favorable Risk-Reward Ratios

Q1: Layoffs, Bubbles, and Deficits: Preserving Capital Despite Stock Market Volatility