January 2021

The fourth quarter of 2020 witnessed an increase of 12.15% in the S & P 500, with the full year registering a resounding upsurge of 18.40% in the Index.

October 2020

As the S & P 500 continues to waltz along, we are reminded once again of Chuck Prince, that metaphor that keeps on giving. In 2007, shortly before the financial crisis, the erstwhile CEO of Citigroup famously said that “as long as the music is playing, you’ve got to get up and dance”. Today’s stock market appears to be listening (and boogying along).

Home on the Range

December 2020

In thinking back on the letters we’ve written over the years, it occurs to us that each one, in its own way, was an attempt to address how best to deal with uncertainty.

To Catch a Falling Butter Knife

April 2020

As each of us experiences days that feel more like years, we thought it would be useful to let you know in greater detail how we at Marshfield are approaching this crisis.

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?”