Dear Partners and Friends,
First and foremost, I hope you are all keeping safe and healthy these last few months.
Given the market volatility in the past few weeks, I thought it would be suitable to give you an update on our portfolio a couple weeks early, before our usual Q1 2020 investor letter is sent out.
Hayden Capital Performance
During the first quarter of 2020, our portfolio gained +4.1% vs. the S&P 500’s -20.0% loss and the MSCI World’s -21.1% decline. Since inception, we have compounded at +12.04% annualized, vs. +6.57% and +3.22% for the S&P 500 and MSCI World indices, respectively.
Unfortunately, somber news keeps coming out daily in the West, especially...
