Can October Seasonals Keep the Melt-Up Going?

Published on October 3, 2025

Despite a weaker end to the month, the equity market “melt-up” successfully navigated what has historically been a tricky month for equities, as represented by the S&P 500 in September (average returns -0.61%), closing out the month (as of September 29) with a handsome gain of over 3%.

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How Much Stock Should Founders Keep?

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You look at your net worth and realize most of it is in your company stock. On one hand, that feels great. You built something real. On the other hand, it is a little scary. What if the market collapses and takes your stock with it? Or what if life throws a curveball and you need cash for your family, another house, or college tuition?This is the reality for most founders. Company stock is excitin

Six Decades of Value Investing: Q&A With Windsor II Fund’s Lew Sanders

October 3, 2025
Portfolio manager Lew Sanders has quietly built a legacy as one of the most influential value investors of the past 50 years.