Little Saint has many faces. The cottage has a view to the northwest across a 100-acre bay. In the middle of the bay sits a small island which rises majestically from the water, its pines and birch holding the terra firma solidly in place. The cottage was built in the 1930’s by a wealthy industrialist from Chicago. He owned the entire bay and all the lands surrounding it. He could have built the cottage anywhere on the bay but decided that this would be its location. It has puzzled me as to why. Why did he build here? The cottage is built into a rise from the lake and the land had to be excavated for it to hold both the first floor and the basement. Other lots on the bay are pancake flat, making an easier build and easier access to the water, i.e., no steps up or down to the waters’ edge. It’s 30 steps from the cottage to the water. He didn’t place it with a west view for sunsets, nor with an east view to catch the sunrise, nor with a south view to catch the sun’s full rays, but to the Northwest. Old postcards found on the internet show the bay was a fishing camp prior to the Industrialists’ acquisition and a prior structure stood on the site. Glorious White Pines on our property stand tall, towering over the bay and mark the highest point on the bay. This hasn’t gone unnoticed by nature with the tallest tree supporting an active eagle’s nest. Their caws and screams remind you that you are truly in the North Woods. Conjecture after speaking with locals is the earlier structure on the property may have been an early trapper’s cabin and that the land surrounding the cottage would not have been denuded of trees. It’s hard for me to visualize, but all of the North Woods were clear cut in the 19th century and when the cottage was built in the 1930’s, a mere 30 to 50 years would have passed since the last cutting. Maybe the location was decided due to the centuries old White Pines surrounding the house.

Little Saint has many faces. Our normal routine is to rise around 6am and have coffee at the dining room table with a spectacular view of the lake. In the summer, ducks, geese and loons swim the waters, bald eagles fly overhead fishing the lake, and songbirds fill the trees. Each morning is different. Rising early the bay can be extraordinarily calm, its surface like glass, perfectly reflecting the trees and clouds like a renaissance painting. If strong winds are out of the north, waves can whip up small white caps which dance across the bay violently choreographed and perfectly in step. The summer skies over the bay can be the bluest of blue or hold white billowing clouds or the clouds can be dark and angry, with nature showing its full power and demonstrating that it is not to be trifled with.

Winter can be magical. The frozen bay virgin white with fresh snow holding to the trees. Although the cottage is cozy and warm, one can see the bone chilling North Woods winter and seem to feel it while still warm and comfortable. An unusual yet very welcoming feeling. The beauty of the bay in winter is not to be missed.

Fall brings color to the Northwoods. Deciduous trees and Tamarack light up the bay with reds and yellows contrasting with the green coniferous pines and firs. When the light is just right with the morning sun and clouds, the bay simply explodes with color. The water’s mirror image is alight and unforgettably beautiful. Beauty that never fails to impress even the most jaded or travelled among us.

Spring may be my favorite season, Up North. The woods are devoid of people, too late for snowmobilers and deer hunters, too early for fishing and boating. The tranquility offers a new perspective. Trees devoid of leaves, snow turns to slush, but the beauty of the bay remains, although many strain to see it. The silence and feeling of solitude create a feeling of belonging and connectedness too often missing in our modern world.

Little Saint has many faces. Each more captivating than the last.The markets are punctuated by seasons also. Their seasons are not as predictable, but they are seasons, nonetheless. Bull markets turn to flat markets, and bear markets emerge. Just as it is difficult to see the beauty of spring in the North Woods, bear markets bring a certain relief of their own, resetting the markets and allowing markets to hit new highs. Without this reset and the market volatility it brings, long-term returns would need to be lower as market risk would not exist. No one looks forward to the losses that bear markets bring, but they are a natural occurrence of markets. We continue to preach a long-term perspective and that staying the course with a well written Investment Policy Statement created with your risk tolerance and financial objectives in mind will give our clients the best chance of achieving their financial needs.

As always, we thank you for your business and your continued trust.

Sincerely,

Jack P. Cannata