October 2019 Performance Summary

Dear Investors and Advisers,

U.S. stocks climbed to fresh record highs after the October jobs report showed that the economy added more jobs than expected. The Federal Reserve cut interest rates for the third time this year and signaled a pause in lowering rates to assess economic conditions. While economic growth has slowed, as the third-quarter GDP estimate showed last week (from 2.0% to 1.9%), several risks have lessened since the Fed first lowered interest rates in July, namely the de-escalation of U.S./China trade tensions, uncertainty on the Brexit front, and weakness in manufacturing that appears contained. In our view, the U.S. economy remains on solid footing, supported by a strong labor market, still-rising corporate earnings, and low interest rates

Our A.I generated 3.3% this month, here is details:

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