After a successful 2016, the Lonely Bull will hardly have time to catch his breath before the investing cycle starts all over again. Although we do not invest for annual time periods, our clients tend to divide time and measures into this segment. It is part of our culture and how so many of us have been conditioned to think.

Actually, we always make investments with a three to five year time period in mind. Sometimes circumstances call for shorter or longer time frames. The three to five year period is just a way of keeping our focus on the true underlying business fundamentals and not on shorter-term concerns.

This has led to great success for us and we maintain this discipline regardless of the fashion of the moment.

Stay steady, my friends.

the Lonely Bull