2013 Q1 - Investment Letter (DirecTV)

2013 Q1 - Investment Letter (DirecTV)

This year, the S&P 500 Index has come out of the starting blocks with gusto, returning 10.61% in the first quarter. Normally, we would anticipate lagging the broader market in such a frothy environment; however, much to our pleasant surprise, our strategies have virtually kept pace.  The Concentrated with Option Enhancement separate account strategy returned …