The month of June was a somewhat frustrating one for us at Forge First as the portfolios struggled to gain traction amidst a market that also seems inclined to take two steps forward and two steps back. Our portfolio returns were largely held back by the kneejerk nature and short term focus of this market reacting to the “will they, won’t they?” trade war rhetoric. We truly have no opinion on whether they “will” or “won’t”, but we would prefer that the public servants get their bluster out of the way so we can invest accordingly.