Investment Values

Issue Number 129, January 2019

“The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane.”

— Marcus Aurelius

In this Issue:

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Our Investment Outlook
Crypt-uh-oh-currencies
Cheviot’s Graphical Interlude
Janet Joins the Club
Credits, Disclosures, and Notes

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Issue Number 129, January 2019
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Issue Number 120, October 2016
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“Someone is sitting in the shade today because someone planted a tree a long time ago.”

— Warren Buffett

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Management, LLC

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Cheviot Value Management, LLC

Cheviot Value
Management, LLC