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With 99L becoming Tropical depression 9 and then today becoming Tropical Storm "Hermine" I focused the commentary section of the letter on preparations. Having survived some wicked weather during the 1996 history making ice storm in the Pocono's and then Super Storm Sandy in NJ, I've spent a lot of time learning from some real disaster prep experts. So I just want to pass along a little of that knowledge with you all.
I also spend some time talking about the "ranges" the market has been in since back in June. We are now 38 days in a row where the S&P hasn't moved more than a percent. I lay out the upper and lower ends of the range and how we're navigating this market.