HOME ABOUT US FUND INVESTORS INVESTMENT ADVISORY SERVICES HOW TO INVEST NEWS CONTACT US OUR VIEW Market Commentary 9/30/21 The Dude's Dilemma “It’s a very complicated case. . . You know, a lotta ins, lotta outs, lotta what-have-yous.” That is how “The Dude” described his dilemma in “The Big Lebowski”. In reality, however, it wasn’t all that complicated. The Dude, a deadbeat ne’er-do-well, was entrusted to deliver a $1 million dollar ransom. Not surprisingly, he didn’t make the drop and lost the money. His efforts were now focused on finding a way to get the money back so he could get back to life as he knew it, bowling and drinking with his friends. The market’s dilemma these days is complicated, and just like The Dude, it revolves around money, the Fed’s money, a lot of it, and how the Fed is going to get it back. Over the past several years the Fed has been expanding its balance sheet through the outright purchase of government debt, a process known as “quantitative easing.” In 2008 the Fed balance sheet was less than $1 trillion. It doubled to $2.2 trillion the next year, and doubled again by 2014. It doubled again over the last two years, and is now more than $8.4 trillion. The Fed needs to return its balance sheet to more normal levels, but that reversal, known as “quantitative tightening”, could push interest rates higher and tank the economy, at a time that the economy is already struggling with supply chain issues and inflationary pressures. The Fed’s dilemma has generated speculation about “tapering”, “dot charts”, and “transitory” inflation (a lotta what-have-yous, as per The Dude). More > QUICK LINKS MUTUAL FUNDS > Manor Fund > Growth Fund > Bond Fund > Performance > Fund Fact Sheets > Prospectus > Fund Information Established in 1994, Morris Capital Advisors, LLC, provides Conservative Growth-Oriented Investment Management and Distinctive Service for selected clients. We build long-term successful client relationships through: Sound investment strategies. Built on a rigorous analytical process with a long-term horizon, supplemented by an experienced view of the markets Client-driven approach. Based on a clear understanding of client goals and objectives, and active and ongoing client communications INDIVIDUAL INVESTMENT SERVICES > Learn more about Morris Capital Advisors, LLC SIGN UP FOR UPDATES > Download our Newsletter Our promise Seek to produce consistent, competitive returns, with the goal to help eliminate the conflicts of interest that can often negatively impact results. Our goal Maintain a client-driven firm clearly focused on the needs and objectives of each client, owned by principals believing in what we do, investing together with clients in a true partnership relationship. Privacy | Disclaimer | Directions | Contact Us | Morris Capital Advisors, LLC | 15 Chester Commons, Malvern, PA 19355 | phone: 610-722-0900 | toll-free: 800-787-3334 | fax: 610-725-8003 Morris Capital Advisors serves as the investment advisor to the Manor Investments Funds and receives a fee for its services.Shares of the Manor Investment Funds are distributed by Foreside Fund Services. FFS is not affiliated with Morris Capital Advisors or Manor Investment Funds.