Regular EVA readers know that Grant Williams is not only a frequent contributor to the Guest editions of our newsletter, he’s also among my closest friends.  Thus, you should take what I’m about to say with a big shaker of salt:  I think he should be nominated, along with his key sources, for a Pulitzer Prize in investigative reporting.

Investors that have put their faith – and hard-earned dollars – in Chinese growth equities over the past few years can likely relate to this saying as Beijing has unleashed a series of rolling regulatory initiatives aimed at Chinese tech companies.

One of Wall Street’s most hallowed phrases is “Don’t Fight the Fed” and for good reason. Whether it was the 2016 deflation scare, the stealth pre-Covid recession, or the pandemic itself, the Fed’s unlimited liquidity creation has triumphed over all threats to the US stock market.

One of the unexpected, world-defining events of the past year has been the global shortage of semiconductor chips.

For several years, Evergreen’s weekly publication of Likes/Dislikes has maintained gold and gold-mining stocks in our “Likes” category. However, despite our long-term conviction, at times we have conceded that the asset class looked overextended and, thus, advised some profit taking and rebalancing.