
During the last quarter, Atwater Malick acquired 42,862 shares of ACWX. The figure, as best as anyone can calculate given the inherent imprecision of financial reporting (it’s all approximations, really, based on assumptions about the speed of light and the migratory patterns of accountants), equates to roughly $2.84 million. And, rather delightfully, the value of the fund itself increased by $3.27 million – a figure that accounts for both the purchase and the general upward tendency of things that people decide are worth more. It’s a curious phenomenon, this “value,” isn’t it? (One might spend a lifetime pondering it, and still end up with a slightly dented teapot.)