EquityCompass

08/21/2026

Opposing forces have produced mixed results for the bond market through the first 7.5 months of the year. On a positive note, the yield-to-maturity on the Bloomberg U.S. Aggregate Bond Index (AGG) has averaged 4.6% year-to-date, resulting in the highest level of income production since 2008, based on comparable time periods. While the AGG has generated a healthy level of income to meet investors’ cash flow needs, bond prices have broadly declined due to higher Treasury yields. Viewed collectively, these offsetting factors have prevented the AGG from creating meaningful total returns in 2026. View the data...https://www.equitycompass.com/content/Insights/content/demasi_fixed_income_perspectives_august2026.pdf

08/11/2026

Looking back…
We launched the Global Leaders Portfolio (GLP) in July 2014 with an objective to pursue long-term capital appreciation. Since inception, the portfolio has endured significant headwinds. Despite the broader market experiencing two major bear markets (2020, 2022), two near bear markets (2018, 2025), and two common variety market corrections (2016, 2023), the Global Leaders Portfolio has produced solid results. Recognizing that sustainable, long-term, above-average growth is rare, we remain committed to a business-driven investment process that seeks to identify high returning economic businesses that can compound wealth over time. Adherence to this concentrated, low turnover approach, we believe, has contributed to GLP’s long-term success, which we welcome you to view.
https://www.equitycompass.com/content/glp-annualreport.pdf
https://www.equitycompass.com/content/glp-brochure.pdf

07/07/2026

Sensible long-term investing can be viewed in two parts. First, it is a reverent process—the "cathedral." Investors thoughtfully consider a company’s prospects, review its financial returns, assess those in charge of managing the company and, finally, attempt to calculate what the business is worth. The intended outcome of this process is to purchase shares in a company if the stock price is below the estimation of value. The second part is transactional—the act of buying or selling shares in a business. Warren Buffett, who professionally managed money for 70 years, has observed the massive buildout of exchanges—the "casino"—that has added, not only shares in new companies, but new products, including thousands of mutual funds, exchange traded funds (ETFs), futures, and options. Despite the outstanding economic returns of American businesses that have collectively generated amazing wealth for its owners, Buffett believes investors spend far too much time in the casino—the exchanges—with too little time spent in quiet reflection of what they own. Read the article...https://www.equitycompass.com/content/Insights/content/hagstrom_the_cathedral_and_the_casino_july2026.pdf

07/04/2026

Happy Fourth of July from the EquityCompass team!

06/25/2026

We are fortunate to have a front row seat as Baltimore hosts Sail 250 Maryland! It is a perfect weather day at the Inner Harbor to walk amongst the beautiful tall ships as the U.S. Navy Blue Angels whizz overtop downtown buildings in preparation for the weekend airshow. Maryland and Baltimore are part of a five-city national event celebrating the 250th anniversary of the founding of the United States.

06/21/2026

Father’s Day is a opportunity to celebrate the dads and father figures who make a difference every day. From big moments to the little things when no one is watching, we’re grateful for all they do. Happy Father's Day on behalf of the EquityCompass team!

06/11/2026

Inflation Resurfaces, Fixed Income Perspectives – June 2026
For at least the next several months, inflation will likely remain the key driver of both the direction of interest rates and the shape of the Treasury yield curve. A sustainable resolution to the Iran conflict would likely bring down inflation and return bond yields to their previous levels. In that scenario, the yield curve would likely revert to its prior steepening trend. Conversely, a prolonged stalemate or escalation in hostilities may continue to drive up energy costs and put additional upward pressure on inflation and bond yields. Under those conditions, further curve flattening would be expected. See the data…https://www.equitycompass.com/content/Insights/content/demasi_fixed_income_perspectives_june2026.pdf

05/23/2026

This weekend, we remember those who served and sacrificed. Thank you to the heroes who gave everything for our country.

05/10/2026

05/10/2026

"Mothers hold their children's hands for a short while but their hearts forever." Happy Mother's Day from the EquityCompass team!