Weekly Commentary | July 25, 2021 (Reposted)

Summary

• Funds that look interesting:  PCI (relative to PDO), BRW, JSD, ARDC, CXE, AIF, and maybe FPF.

Looks like this was removed from Substack due to an error. Reposting now for archival purposes.

Macro Picture

Another week, more records.  But this week did feel a little different as we had a fairly large one-day sell-off on Monday.  Stocks then recouped …