Quarterly Letter: Finding the Polar Bear in a Snowstorm


March 2020

These are extraordinary times. What should we make, as long-term investors, of the extraordinary market behavior in the last few days and weeks, and how should we respond?

Although it’s very tempting to wait on the sidelines, our clients don’t have that luxury with their decision-making. In his quarterly letter to clients, QMA CEO Andrew Dyson sheds light on investors' most pressing questions.