Commentary

Select Dividend Q4 2024 Investor Letter

by Adam Steffanus, CFA on February 19, 2025

Tariffs are a Tax Tariffs are not inflationary, rather a one-off shift in price level. Tariffs are in fact a tax hike1, which are not inflationary but anti-growth. Investors seem to think that Trump’s tariffs are largely a negotiating ploy. We believe President Trump will do what he s …

Read More