July Commentary

July 2020

After a great many collective years in this business, we’ve learned not to attempt to predict the stock market’s response to events either small or large.

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Letter to Clients: To Catch a Falling Butter Knife

April 2020

As each of us experiences days that feel more like years while under the cloud of fear and anxiety produced by Covid-19, we thought it would be useful to let you know in greater detail how we at Marshfield are approaching this crisis.

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Letter to Clients: Bondage and Discipline

February 2020

We recently hosted a college intern for a day. His first question to us upon learning that we hadn’t bought a new name in over two years was: “Don’t you feel pressure to buy something?”

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Letter to Clients: The Human League

September 2019

It’s no secret that competitive advantages, whether they flow from scale, technology, patent protection, network effects, or some other set of attributes or capabilities, help companies stave off competition and protect and grow market share.

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