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“The Flip Side.”, Quarterly Letter, Q4 2017

January 11th, 2018

Market Comments “The Road Goes on Forever, And the Party Never Ends.” Robert Earl Keen Houston-based singer-songwriter Robert E

2017 Year-End Distributions

December 14th, 2017

  Distributions as of December 14, 2017 Per share short-term capital gains range Per share long-term capital

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“The Flip Side.”, Quarterly Letter, Q4 2017

January 11, 2018

Market Comments

“The Road Goes on Forever, And the Party Never Ends.”

Robert Earl Keen

Houston-based singer-songwriter Robert Earl Keen penned what is arguably his most popular song under trying circumstances. It was 1988 and Keen was in Nashville preparing …

2017 Year-End Distributions

December 14, 2017

 

Distributions as of December 14, 2017

Per share short-term capital gains range Per share long-term capital gains range Per share net investment income Record Date Pay Date
Castle Focus Fund Investor Class (MOATX) $0.142023 $0.888616 $0.013361 12/13/2017 12/14/2017
Castle Focus

2017 Capital Gains Estimates

December 3, 2017

Castle Investment Management is pleased to provide you with this estimate of capital gains distributions for the Castle Focus Fund.  We are providing you with this estimated information to assist you with your tax planning.

The information in the table

“At The Risk Of Sounding Like A Broken Record…”, Quarterly Letter, Q3 2017

October 23, 2017

Market Comments

Do kids today even know what a ‘broken record’ sounds like? Now that nearly all music is on our phones and other devices, we’re fairly sure that a skipping record is as foreign to digitally-raised youngsters as cassette …

“Being Careful. Being Prepared.”, Quarterly Letter, Q2 2017

July 12, 2017

Market Comments

In broad strokes, our investment process is based on the principles of being careful and being prepared. We invest when we can identify high quality companies that can be purchased at substantial discounts to our conservative estimate of …

“What’s Today’s Story?”, Quarterly Letter, Q1 2017

May 4, 2017

Market Comments

The beta for the Castle Focus Fund (MOATX) for the last five years is 0.55 versus the S&P 500. We start our quarterly commentary with this fact to remind our shareholders that we approach our objective of capital …

Market Commentary — Yellow Jessamine

March 20, 2017

“In tangled wreaths, in clustered gleaming stars,

In floating, curling sprays,

The golden flower comes shining through the woods

These February days”

Yellow Jessamine, by Constance Fenimore Woolson, 1900

The calendar tells us that the Spring Equinox occurred today, Monday …

“An Ever-Changing Narrative”, Quarterly Letter, Q4 2016

January 10, 2017

Market Comments

“No warning on earth can save people determined to grow suddenly rich.” —Lord Overstone

When newspapers and reporters declare the stock market is up or down due to a specific event or piece of data, the editors are …

2016 Year-End Distributions

December 16, 2016

 

Distributions as of December 15, 2016

Per share short-term capital gains range Per share long-term capital gains range Per share net investment income Record Date Pay Date
Castle Focus Fund Investor Class (MOATX) $0.10583 $0.42866 $0.02676 12/14/2016 12/15/2016
Castle Focus

“Do You Know TINA?”, Quarterly Letter, Q3 2016

October 12, 2016

Market Comments

”The problem with Cassandras, such as Gross and Jim Grant and Stanley Druckenmiller, among a host of others, is that they can be compared to a broken watch that is right twice a day but wrong for the