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Quarterly Letter

View the Fund's S.E.C. standardized returns, rankings and other important disclosure information

Auxier Report: Summer 2017

Jun 30, 2017

“While the capitalization weighted indexes appear fully valued, we are finding selective opportunities where exceptional management is brought in to build value in mismanaged enterprises.”

Auxier Report: Spring 2017

Mar 31, 2017

“So far, publicly traded stock supply has continued to decline through a combination of corporate stock buybacks fueled by cheap debt, leveraged buyouts and mergers.”

Auxier Report: Winter 2016

Dec 31, 2016

“We have had an earnings recession for the past six quarters. Stock price gains for most companies have far exceeded the growth in underlying business value. Massive share buybacks and historic low interest rates have acted as a buffer.”

Auxier Report: Fall 2016

Sep 30, 2016

“In our study of panics over centuries, we see how a semi-informed public will pool up in rising expensive markets only to unwind in down markets.”

Auxier Report: Summer 2016

Jun 30, 2016

“Historically, market indices can be flat for decades. The Dow Jones Industrials rose one measly point between 1964-1981.”

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