Q3 2019 – Annandale Capital Quarterly Commentary

This is not our normal commentary. We are not going to write extensively about the China trade saga or discuss the valuations of each asset class, because the truth is little has changed on these fronts. Instead, we thought we would spend a little more time discussing the unusual world we live in. Specifically, a world where interest rates at or below zero are the new normal and the major implication associated with this reality. Download Q3 2019 commentary.