Understanding Sources of Returns

I wanted to share a brief post on how I think about sources of returns, using an actual example. This type of thinking is the framework that guides me in evaluating individual investments.

I also wanted to share a brief housekeeping update for subscribers. I posted the June Newsletter a week or so ago. I would expect to post the portfolio holdings as of June 30 by the beginning of July. I am doing some research right now to determine where I want to allocate my investments for July. I should have that done by the beginning of July as well.