We published an update on MCD on May 4, 2022. A copy of the associated Earnings Update report is here

We published an update on MCD on May 5, 2021. A copy of the associated Earnings Update report is here

We closed the TTC and APH positions on November 18, 2020. A copy of the associated Position Update report is here.

The market’s record volatility shows no sign of letting up, and further downside may be ahead. Misleading accounting earnings beats can no longer prop up valuations, trade tensions create an uncertain future, and economic earnings across the market continue to decline.

However, it’s not all bad news for investors. Over the long-term, market corrections present great money making opportunities. Now that our unconflicted and comprehensive fundamental research is widely accessible, investors are better equipped to buy quality companies at cheap prices during bear markets.

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