December 18, 2015
Rich Berg and Phil Nussbaum
For each of the past 20+ years, and again this year, Phil and I have observed a tradition of sending out a Christmas letter, a personal letter from us as a pair of individuals, rather than as an official corporate communication. I learned this tradition from one of my mentors, Clayton Brown, for whom I had the privilege of working from 1982 until 1994 (the year we started Performance Trust). If such a thing was politically incorrect during that era, we appreciate that in today’s climate persisting in this tradition may raise more than a few eyebrows. We nonetheless feel compelled by our convictions to do so.