Horos Asset Management letter to investors for the third quarter ended September 30, 2019.
Q3 2019 hedge fund letters, conferences and more
Dear co-investor,
We finish the third quarter of 2019, a period of continuity with respect to previous quarters, in which investors' money continues to flow towards certainty, at any price, and flees from the most illiquid and/or cyclical companies, despite the attractiveness of their valuation.
This situation is causing an unsatisfactory relative (and absolute) return on our portfolios in...