The shareholder letter includes a discussion of the market's recent oscillations between various types of value and growth stocks. It also includes a numbered discussion concerning several market related topics. (I would have found it helpful for Figure 7, the punchline chart, to include more specific source information related to the estimated rough doubling of the "Fed balance sheet % of GDP" between now and YE 2024.)
Anyway, here is the report:
FMI QUARTERLY REPORT June 30, 2021
