St. James Investment Company recently released its “Value Investors” third-quarter 2026 investor letter. A copy of the letter can be downloaded here. The fund is operating in an increasingly challenging value-investing environment marked by rising interest rates and energy prices, record government debt, elevated stock-market valuations, and ongoing geopolitical conflicts, even as the S&P 500 remains near all-time highs. The letter does not report a specific third-quarter return for the...
