April 2020 - Tocqueville

Volatility vs. Risk

Time is the investor’s friend and the speculator’s foe. Why?  One reason is that many market participants tend to confuse risk and volatility. For long term investors (and really, there is no other kind) volatility represents not a true risk, as in complete loss of...

Operational Update

While the Covid-19 pandemic has taken its toll on the economy and has caused unprecedented volatility in the stock, bond and credit markets, Tocqueville has continued to be fully functional.  Due to state and local “Stay at Home” orders and to enforce social...