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Institutional / Advisor Relations:

Christopher Crawford
(913) 647-2321
ccrawford@buffalofunds.com

Scott Johnson
(913) 754-1537
sjohnson@buffalofunds.com

For general inquiries, please email us at advisors@buffalofunds.com.

“ARE WE AFRAID OF TRADE WARS?”

Because the phrase “Trade War” has been in the news so consistently of late, investors have naturally felt the need to ask us how the trade wars could affect our Buffalo International Fund. — In this latest insight from our PMs, we look at our investment approach and style to gauge any potential impacts from the trade disputes.  Read More

Bill Kornitzer — July 2018 — 4 pages  

“3 CONVERSATIONS DURING MARKET VOLATILITY”

After a long and fairly peaceful run, the stock market has been on a roller-coaster ride thus far in 2018. — With the 2008-2009 financial crisis and resulting severe bear market still fresh in the mind of many investors, it’s no wonder people are asking if they’re positioned to protect against heavy losses. This guide will help guide investors through 3 very important conversations during these volatile times.  Read More

June 2018 — 8 pages  

“BEYOND BETTER DAYS FOR ACTIVE MANAGEMENT”

Is this the active management renaissance we’ve been waiting for? — Much has been made about the death of active strategies. The reality is: active investing has evolved. Beating or timing the market was always a race to the bottom. Many financial advisors today are using active strategies, seeking to add incremental return while reducing downside risk.  Read More

April 2018 — 5 pages  

“TRUMP TARIFFS & CURRENT STATE OF INTERNATIONAL MARKETS”

Listen to a recent Q&A session hosted by our International Fund portfolio managers, Bill Kornitzer and Nicole Kornitzer — In the Q&A, they answered questions about the recent announcements regarding tariffs and how the international markets are impacted. The PMs also provide examples of companies in their portfolio that shows their investment process at work as well as what differentiates their fund from others.  Read More

Bill Kornitzer, Nicole Kornitzer — March 2018 — 7 audio files  

“POTENTIAL ADVANTAGES OF BOUTIQUE INVESTMENT FIRMS MANAGING MUTUAL FUNDS”

Boutique management firms are built on the passionate belief that they can deliver solid and consistent risk-adjusted performance over the long term by employing distinct, well-defined, and repeatable investment processes. — A boutique mutual fund management firm can have many advantages over larger asset management firms, including possible outperformance, more alignment of the interests of investors and money managers, and more differentiation and discipline in investment processes.  Read More

December 2017 — 8 pages  

“WHY INVEST INTERNATIONALLY NOW?”

How economic cycles, GDP growth, global savings rates, and relative valuations could all be possible indicators of increased opportunity in international equity investing — Our International Fund portfolio managers provide a detailed analysis of various global factors they view as key drivers of growth in international markets and why today’s investing environment could be ideal for investors looking to expand their international exposure.  Read More

Bill Kornitzer, Nicole Kornitzer — October 2017 — 13 pages  

“SEEKING GROWTH THROUGH INNOVATION”

How the Buffalo Discovery Fund portfolio managers use innovation as the cornerstone of their investment strategy — In this latest report, we outline our views on innovation as a key component of our investment criteria for companies in the Buffalo Discovery Fund portfolio.  Read More

Clay Brethour, Dave Carlsen — September 2017 — 4 pages  

“HIGH YIELD MARKET OUTLOOK”

Cautious positioning could be key — We now believe the high yield market offers more risk than reward. While we are not forecasting an imminent recession, numerous factors could result in wider credit spreads down the road.  Read More

Paul Dlugosch, Jeff Sitzmann, Jeff Deardorff — September 2017 — 5 pages  

“BUFSX team sees additional upside potential in Twilio (NYSE:TWLO)”
Jamie Cuellar, CFA — 3 pages  

May 18, 2018OUR SYNOPSIS: After participating in Twilio’s initial public offering (IPO) in 2016 and quickly exiting after the position approached what we deemed was a full valuation, the stock decreased to a more reasonable valuation, and the Buffalo Small Cap team decided to buy back into the stock. However, to remain competitive, Twilio has to continue to provide the best service out there and the broadest geographic coverage, while continuing to write new APIs that are going to get used by their developer customers.

Read Full Report

“BITCOIN – GLOBAL CURRENCY OR SPECULATIVE BUBBLE?”

Bitcoin has made many headlines in the past year without a full understanding of the potential downfalls of the cryptocurrency. — Many investors also question whether Bitcoin is riding a speculative wave that could soon collapse.  Read More

July 2018 — 3 pages  

“MARKET VOLATILITY RETURNS”

After a strong start to 2018, volatility was reintroduced into the markets. — Rising interest rates, effects from the 2017 tax reform, and U.S. / international trade tariff discussions are major market disruptors. Short-term volatility is just the beginning and could intensify as other central banks reduce their easy money policies.  Read More

April 2018 — 3 pages  

“IN 2018 EXPECT MORE OF THE SAME”

With U.S. stocks having their best year since 2013, the strong performance was also seen in most of the major global equity markets — A rare tailwind that continues into 2018 is “synchronized global growth”. More of the world’s central banks may also start to unwind the extreme stimulus measures that have been in place for nearly the past decade.  Read More

January 2018 — 3 pages  

“INTEREST RATES & THE FEDERAL RESERVE”

The equity markets continued their upward trajectory during the 3rd quarter, with most market indices closing the quarter at or near all-time highs — There are 2 key events that will take place over the coming year that will likely have an impact on the market. 1) The Fed will begin to shrink their bond portfolio. 2) There could be a shake-up in Fed leadership.  Read More

October 2017 — 4 pages  

“OUTLOOK FOR THE REMAINDER OF 2017”

With the market momentum in Q1, the first half of 2017 has been the best start for global equities since 1998. — As we move into the 2nd half of 2017, we take a look at the global equity markets and the drivers of change that could move the markets in one direction or another. In this latest report, we also outline potential Central Bank and Federal Reserve policy changes that could affect the financial markets later this year. From pending legislation in the U.S. to upcoming international elections, we give our outlook on the industry and how it might affect you in 2017.  Read More

July 2017 — 4 pages  

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