First Eagle Investments

I was walking around a Morgan Stanley office, I poked my head into an open door. The advisor looks up and says “Why should I work with you instead of the other wholesalers calling on me?" I said "Serve Not Sell, I want to help you, your business and your clients" His response: "well if that's the case, my biggest problem is client service, help me solve that and then we will talk about your funds" We spent the next 4 meetings and 15 months working on that. 15 months later we finally talked about a product, I frankly can't remember exactly what it was. Here we are years later and he is a great client and friend. Serve Don't Sell!

I’m thrilled to be partnered with Heather as COO and excited about what we can accomplish together with Diamond Hill’s terrific leaders.

A beautiful day with a great organization!

I read The Go-Giver every year. It’s my version of a reset — just a reminder to focus on what’s actually important. The main idea is simple: Focus on giving more value than you take. Sounds obvious. But it’s easy to drift the other way. Focus on the outcome. What you’re trying to get. Closing the deal. Over time, I’ve realized the people who build the strongest relationships don’t operate that way. They focus on helping. Answering questions. Making connections. Showing up consistently. No agenda. And over time, that approach tends to compound

8:00 AM Monday Briefing. Starting off Monday at the NAPA 401(k) Summit with a 4.1 Mile run along the bay. Great views, sunrise and dolphins. 2 articles from the 4.20.26 edition of Barron's: "The Only Thing to Fear is Lack of Fear Itself". The Options column (page 31) headline describes the article content and highlights how quickly traders jump on the "de-escalation" trade yet outcomes of wars are incredibly difficult to predict . Additionally, "U.S. Companies Have A New Speaking Style. Thanks, AI" is an interesting about the phrasing structure that may be tapping AI for help(page 26). "It's not x, it is Y" is a structure appearing more frequently across corporate filings and slogans. Just as we are on the lookout for AI generated images/videos, it is helpful to know who or what may be creating what we are reading. #napa401ksummit

Excited to be attending and sponsoring ACLI FIR this week. Always energizing to step out of the day-to-day and hear how others are thinking about key themes in the insurance industry.

Credit markets are sending signals that headlines aren't capturing, and for investors, the disconnect may represent a meaningful opportunity. Join us Wednesday, April, 22 and come away with actionable takeaways from our experts on where they see the most meaningful opportunities. REGISTER - https://bit.ly/4vGQHrZ 📅 April 22, 2026 | 12 PM ET Featuring insight from: -Scott Caraher (Head of Senior Loans, Nuveen) -Mattis Poetter (Partner and Co-CIO, Arcmont) -Randy Schwimmer (Vice Chairman, Chief Investment Strategist, Churchill) -Himani Trivedi (Head of Structured Credit, Nuveen) -Moderator: Laura Cooper (Head of Macro Credit and Global Investment Strategist, Nuveen)

Atomic Habits talks about how small habits shape outcomes. You see that everywhere. With the Masters starting, think about a golf swing. It’s not built in one round. It’s small adjustments over time. Reps no one sees. In football, it’s staying after practice. Working your pass sets. Jump rope. A little extra every day. Nothing dramatic. As a wholesaler, it’s the follow-up. Staying ahead of your calendar. Doing the small things consistently. The field may change. But consistency doesn’t.