<?xml version="1.0" encoding="UTF-8"?><rss xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:atom="http://www.w3.org/2005/Atom" version="2.0"><channel><title><![CDATA[GDS Investments, LLC]]></title><description><![CDATA[GDS Investments is a premier investment management firm located in West Chester, PA and led by Glenn D. Surowiec, a Registered Investment Advisor.]]></description><link>https://www.gdsinvestments.com/on-glenns-desk</link><generator>RSS for Node</generator><lastBuildDate>Mon, 11 May 2026 17:52:33 GMT</lastBuildDate><atom:link href="https://www.gdsinvestments.com/blog-feed.xml" rel="self" type="application/rss+xml"/><item><title><![CDATA[Client Update, April 2026: You can't predict. You can prepare.]]></title><description><![CDATA[“You can’t predict. You can prepare.” Investor Howard Marks   In last month’s letter , we briefly alluded to the war with Iran that had, at that point, only just begun. Then, our only observation was that “these dynamics bear watching in the months ahead.”   Well, as the conflict now continues into its third month, it is worth stepping back to examine both its economic implications and, more broadly, what the current administration’s approach to international relations may mean for markets...]]></description><link>https://www.gdsinvestments.com/single-post/client-update-april-2026-you-can-t-predict-you-can-prepare</link><guid isPermaLink="false">69dd84a1602a28f5308b06a9</guid><category><![CDATA[2026]]></category><pubDate>Sat, 11 Apr 2026 04:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/48e28de7fe934dc0a81b80479157581b.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Glenn D. Surowiec</dc:creator></item><item><title><![CDATA[Client Update, March 2026: Pulling back the curtain]]></title><description><![CDATA[“He who conquers others is strong; he who conquers himself is mighty.” Lao Tzu   Value investing is sometimes misunderstood as a philosophy of buying a stock and never selling it. It’s understandable why people might think this. Legendary value investor Warren Buffett once said, “Our favorite holding period is forever.”   And it’s true: in an ideal  world, we would find exceptional businesses at attractive prices and hold them indefinitely.   But the reality is that circumstances change....]]></description><link>https://www.gdsinvestments.com/single-post/client-update-march-2026-pulling-back-the-curtain</link><guid isPermaLink="false">69b6c1b58ad36e9febd1d1df</guid><category><![CDATA[2026]]></category><pubDate>Sun, 15 Mar 2026 04:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/c51be87700bd4c4cbd120a0f7d273361.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Glenn D. Surowiec</dc:creator></item><item><title><![CDATA[Client Update, February 2026: Let's slow it down.]]></title><description><![CDATA[“The big money is not in the buying and selling, but in the waiting.” Charlie Munger, Value Investor and former Vice Chairman of Berkshire Hathaway   What a year it has already been. Between nonstop headlines, political controversies, and market volatility, it feels like we’ve already packed a year's worth of developments into little more than a month.   In times like this, our first instinct is not to react, but to slow things down.   Volatility does not invalidate a disciplined investment...]]></description><link>https://www.gdsinvestments.com/single-post/client-update-february-2026-let-s-slow-it-down</link><guid isPermaLink="false">69a4be9460298c02e5bd68ad</guid><category><![CDATA[2026]]></category><pubDate>Thu, 26 Feb 2026 05:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/11062b_c0ca2a584f93468990790b45623c50c5~mv2.jpeg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Glenn D. Surowiec</dc:creator></item><item><title><![CDATA[Client Update, January 2026: The New Year and the Economic Landscape]]></title><description><![CDATA[“What you see and what you hear depends a great deal on where you are standing. It also depends on what sort of person you are.” C. S. Lewis Happy New Year, and thank you, as always, for your continued trust and partnership. As we begin 2026, it feels appropriate to step back and assess the economic landscape, what the market is grappling with, and how we are positioning capital in an environment that remains unusually volatile and uncertain.   What should investors expect from 2026?   The...]]></description><link>https://www.gdsinvestments.com/single-post/client-update-january-2026-the-new-year-and-the-economic-landscape</link><guid isPermaLink="false">6979419767f9308d2971fc9e</guid><category><![CDATA[2026]]></category><pubDate>Fri, 16 Jan 2026 05:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/7da97df5ccd44411a2567567be55a5df.jpg/v1/fit/w_1000,h_997,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Glenn D. Surowiec</dc:creator></item><item><title><![CDATA[Client Update, November 2025: A Glance in the Rearview Mirror]]></title><description><![CDATA[“The two most powerful warriors are patience and time.” Leo Tolstoy As we move deeper into the fall and approach year-end, it may be worth pausing for a moment to look back. Politically and economically, this has been a year full of upheaval and surprises. Can a glance in the rearview mirror offer us clues about what lies ahead?   One thing strikes us immediately. Back in May, we speculated  that Trump’s unpredictable tariffs-based economic policy risked upending preexisting global economic...]]></description><link>https://www.gdsinvestments.com/single-post/client-update-november-2025-a-glance-in-the-rearview-mirror</link><guid isPermaLink="false">693c27ad3fd6b1eb4d0613ab</guid><category><![CDATA[2025]]></category><pubDate>Wed, 12 Nov 2025 05:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/8d543e10723c4958b7712f0d9f822de4.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Glenn D. Surowiec</dc:creator></item><item><title><![CDATA[Client Update, October 2025: What do the CEOs say?]]></title><description><![CDATA[“Outside of its legitimate function, government does nothing as well or economically as the private sector.” Former U.S. President Ronald Reagan Last month, business leaders gathered at Yale’s biannual CEO Caucus, a closed-door forum designed to elicit candid discussion on policy and the economy. There, the Yale School of Management surveyed  dozens of CEOs on the current administration’s approach to tariffs, monetary policy, and other matters. The results were striking to us:   70% said the...]]></description><link>https://www.gdsinvestments.com/single-post/client-update-october-2025-what-do-the-ceos-say</link><guid isPermaLink="false">68ea877e5aaaeed328c85779</guid><category><![CDATA[2025]]></category><pubDate>Sat, 11 Oct 2025 16:38:59 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/11062b_83a6deeb09354388b8f33806802f7278~mv2.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Glenn D. Surowiec</dc:creator></item><item><title><![CDATA[Client Update, September 8, 2025: Reshaping the Investing Landscape]]></title><description><![CDATA[“Greed is a bandage which a higher power sometimes binds across the eyes of reason . ” American journalist and author Edwin Lefevre What...]]></description><link>https://www.gdsinvestments.com/single-post/client-update-september-8-2025-reshaping-the-investing-landscape</link><guid isPermaLink="false">68c5e75d87c099ed06ab08db</guid><pubDate>Sat, 13 Sep 2025 04:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/11062b_7a8b940e1894493ab7492438e2960e27~mv2.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Glenn D. Surowiec</dc:creator></item><item><title><![CDATA[Client Update, August 6, 2025: A Tariff Update]]></title><description><![CDATA[It’s been just over four months since Trump’s April 2 “Liberation Day” tariff announcements, and many observers have been surprised by...]]></description><link>https://www.gdsinvestments.com/single-post/client-update-august-6-2025-a-tariff-update</link><guid isPermaLink="false">689904154d23f3b354186d83</guid><category><![CDATA[2025]]></category><pubDate>Wed, 06 Aug 2025 04:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/11062b_3e26c21e64ae48a1b02ff442ab562bcf~mv2_d_3991_2661_s_4_2.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Glenn D. Surowiec</dc:creator></item><item><title><![CDATA[Client Update, July 13, 2025: The Rule Book.]]></title><description><![CDATA[“ Microeconomics is what you do, macroeconomics is what you put up with. ” Charlie Munger, former vice chairman of Berkshire Hathaway After the tumult of the past several months, you may have begun reading commentary suggesting that the investing “rule book” of the past 15 years has been discarded and that we now face a fundamentally different economic reality demanding changes to how we invest.   But is that true?   “I think the rule book has changed,” Brad Klapmeyer, a senior portfolio...]]></description><link>https://www.gdsinvestments.com/single-post/client-update-july-13-2025-the-rule-book</link><guid isPermaLink="false">68990171fc810a67e3170eea</guid><category><![CDATA[2025]]></category><pubDate>Sun, 13 Jul 2025 04:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/11062b_7f31618bae554231849980e708e90e1a~mv2.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Glenn D. Surowiec</dc:creator></item><item><title><![CDATA[Client Update, June 8, 2025: The imminent end of an era.]]></title><description><![CDATA[“ Tell me who your heroes are, and I'll tell you who you’ll turn out to be. ” Warren Buffett, Chairman and CEO of Berkshire Hathaway We cannot begin our letter this week without acknowledging the imminent end of an era.   Last month, Warren Buffett announced  that he would be stepping down as CEO of Berkshire Hathaway at the end of the year. He will likely be replaced by Greg Abel, who is currently chairman and CEO of Berkshire Hathaway subsidiary, Berkshire Hathaway Energy.   Buffett is, of...]]></description><link>https://www.gdsinvestments.com/single-post/client-update-june-8-2025-the-imminent-end-of-an-era</link><guid isPermaLink="false">6898fe194d23f3b354185ef1</guid><category><![CDATA[2025]]></category><pubDate>Thu, 12 Jun 2025 04:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/11062b_a650586eab9546d98b59d298713d00ea~mv2.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Glenn D. Surowiec</dc:creator></item><item><title><![CDATA[Client Update, May 8, 2025: Tariffs at work.]]></title><description><![CDATA[“ In the United States we should be looking to trade with the rest of the world, and we should do what we do best and they should do what they do best. ” Warren Buffett Last month, we wrote  at length about President Trump’s tariffs imbroglio: an aggressive package of tariffs based on bad math, all but certain to produce economic outcomes ranging somewhere between bad and dire. The market subsequently protested vigorously, and—just after publication of our letter—Trump (mostly) retreated.  ...]]></description><link>https://www.gdsinvestments.com/single-post/client-update-may-8-2025-tariffs-at-work</link><guid isPermaLink="false">6834f56ad575207f491c5150</guid><category><![CDATA[2025]]></category><pubDate>Thu, 08 May 2025 04:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/11062b_3205c2834eb541f997a021253211ac2c~mv2.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Glenn D. Surowiec</dc:creator></item><item><title><![CDATA[Client Update, April 9, 2025: What a month.]]></title><description><![CDATA[“So that the record of history is absolutely crystal clear. That there is no alternative way, so far discovered, of improving the lot of...]]></description><link>https://www.gdsinvestments.com/single-post/client-update-april-9-2025-what-a-month</link><guid isPermaLink="false">681022339e2e9d6190d405ee</guid><category><![CDATA[2025]]></category><pubDate>Wed, 09 Apr 2025 04:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/11062b_b0210b1228624c0f8919acc7c3c3ae8b~mv2.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Glenn D. Surowiec</dc:creator></item><item><title><![CDATA[Client Update, February 15, 2025: A new year]]></title><description><![CDATA[“The secret to successful investing is relatively simple: figure out the value of something and then pay a lot less.” Joel Greenblatt...]]></description><link>https://www.gdsinvestments.com/single-post/client-update-february-15-2025-a-new-year</link><guid isPermaLink="false">67b74110a682657c3990112b</guid><category><![CDATA[2025]]></category><pubDate>Sat, 15 Feb 2025 05:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/2d3e0ea2c9e84bfc9587df02c0d12372.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Glenn D. Surowiec</dc:creator></item><item><title><![CDATA[Glenn Appears on MOI Global's Best Ideas 2025]]></title><description><![CDATA[Enjoy my Best Ideas 2025 Conference appearance with John Mihaljevic, CFA and Chairman of MOI Global. Listen now >]]></description><link>https://www.gdsinvestments.com/single-post/glenn-appears-on-moi-global-s-best-ideas-2025</link><guid isPermaLink="false">67a1733d3b37fcacb8c2538e</guid><category><![CDATA[2025]]></category><pubDate>Mon, 03 Feb 2025 05:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/5ae0e5_ced20a3604884d86ab59803c3b97555d~mv2.png/v1/fit/w_1000,h_780,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Glenn D. Surowiec</dc:creator></item><item><title><![CDATA[Client Update, December 18, 2024: A new world ahead for investors]]></title><description><![CDATA[As we find ourselves a little more than a month out from the presidential election, any surprise from the outcome is settling, and we are starting to get more insight into President-elect Trump’s stated plans. Specifically, he has announced blanket 10% tariffs on goods imported from China and 25% tariffs on Mexico and Canada . He has also put forth  several names  for key economic positions, including:   Hedge fund founder Scott Bessent  for Treasury Secretary Investment banker Howard Lutnick...]]></description><link>https://www.gdsinvestments.com/single-post/client-update-december-18-2024-a-new-world-ahead-for-investors</link><guid isPermaLink="false">676356b79da3ce087aca1467</guid><category><![CDATA[2024]]></category><pubDate>Wed, 18 Dec 2024 05:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/11062b_1107bb0168a54ef983101aa24bace40d~mv2.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Glenn D. Surowiec</dc:creator></item><item><title><![CDATA[Client Update, November 19, 2024: Post-Election Pragmatic Optimism]]></title><description><![CDATA[“ But the essence of good business is knowing when to step on a train and when to step off. ” Richard Rainwater, American investor and...]]></description><link>https://www.gdsinvestments.com/single-post/client-update-november-19-2024-post-election-pragmatic-optimism</link><guid isPermaLink="false">673d02775c97e769e2efa6ea</guid><category><![CDATA[2024]]></category><pubDate>Tue, 19 Nov 2024 05:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/11062b_a05a4a5edff14da1ada9ef41166ecd6d~mv2.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Glenn D. Surowiec</dc:creator></item><item><title><![CDATA[Client Update, October 12, 2024: New CEOs and the Leadership Question]]></title><description><![CDATA[“Superior businesses produce a lot of positive surprises. Bad businesses throw up one headache after another.” Value Investor Li Lu    ...]]></description><link>https://www.gdsinvestments.com/single-post/client-update-october-12-2024-new-ceos-and-the-leadership-question</link><guid isPermaLink="false">670ca19c9f61ca5c92cc7043</guid><category><![CDATA[2024]]></category><pubDate>Sun, 13 Oct 2024 04:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/11062b_788c5195cc684353a888acbb2fed872d~mv2.jpeg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Glenn D. Surowiec</dc:creator></item><item><title><![CDATA[Client Update, September 15, 2024: The Economic Implications of the Election]]></title><description><![CDATA[“ Kamala Harris and Donald Trump are shredding basic economic good sense. ” writer Roger Lowenstein in The New York Times     The U.S....]]></description><link>https://www.gdsinvestments.com/single-post/client-update-september-15-2024-the-economic-implications-of-the-election</link><guid isPermaLink="false">66f1ac81f438370f2339d18b</guid><category><![CDATA[2024]]></category><pubDate>Mon, 16 Sep 2024 04:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/11062b_5af9aee79de84a398c02ddc5d682c1d5~mv2.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Glenn D. Surowiec</dc:creator></item><item><title><![CDATA[Client Update, August 20, 2024: The Private Equity Pause]]></title><description><![CDATA[In most letters, we focus on the characteristics that attract us to a particular position. We’ve spoken at length, for example, about...]]></description><link>https://www.gdsinvestments.com/single-post/client-update-august-20-2024-the-private-equity-pause</link><guid isPermaLink="false">66f1ad192dd8d10dd933cd25</guid><category><![CDATA[2024]]></category><pubDate>Tue, 20 Aug 2024 04:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/cf97960d9e3c4bc3b91161fc666b2ed9.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Glenn D. Surowiec</dc:creator></item><item><title><![CDATA[Client Update, July 2, 2024: Is Real Estate the Best Long-Term Investment?]]></title><description><![CDATA[“ The stock market is there to serve you and not to instruct you. ” Warren Buffett | Co-founder, chairman and CEO of Berkshire Hathaway  ...]]></description><link>https://www.gdsinvestments.com/single-post/is-real-estate-the-best-long-term-investment</link><guid isPermaLink="false">66f1abb959a4ab31305f9470</guid><category><![CDATA[2024]]></category><pubDate>Tue, 02 Jul 2024 04:00:00 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/11062b_95eb9d42ab6a46d8865055397177a395~mv2.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Glenn D. Surowiec</dc:creator></item></channel></rss>