In the feature article of this issue of InvestorView, Chief Investment Strategist Scott Clemons examines the opportunities and risks that cryptocurrencies pose by exploring bitcoin and the blockchain technology on which cryptocurrencies rely. For a preview of the article, watch this video.

Also in this issue, we examine the distinction between time- and capital-weighted returns, looking at them through two separate lenses: capacity as well as conviction and timing. Finally, Wealth Planner Michelle Hong discusses legal and financial steps for parents to consider when planning for a loved one who may require varying levels of care and support over the long run. As always, we review the markets and provide an update on our current portfolio positioning and priorities.


Compliance Notes:
This publication is provided by Brown Brothers Harriman & Co. and its subsidiaries (“BBH”) to recipients, who are classified as Professional Clients or Eligible Counterparties if in the European Economic Area (“EEA”), solely for informational purposes. This does not constitute legal, tax or investment advice and is not intended as an offer to sell or a solicitation to buy securities or investment products. Any reference to tax matters is not intended to be used, and may not be used, for purposes of avoiding penalties under the U.S. Internal Revenue Code or for promotion, marketing or recommendation to third parties. This information has been obtained from sources believed to be reliable that are available upon request. This material does not comprise an offer of services. Any opinions expressed are subject to change without notice. Unauthorized use or distribution without the prior written permission of BBH is prohibited. This publication is approved for distribution in member states of the EEA by Brown Brothers Harriman Investor Services Limited, authorized and regulated by the Financial Conduct Authority (FCA). BBH is a service mark of Brown Brothers Harriman & Co., registered in the United States and other countries.
© Brown Brothers Harriman & Co. 2018. All rights reserved. 2018.
PB 02170-2018-04-23