Alluvial Fund declined 9.9% in the second quarter and is down 16.5% year-to-date, outperforming the Russell Microcap Index, which is down 25.1% in 2022.
According to a copy of the firm’s first-half letter to investors, which ValueWalk has reviewed, Alluvial Fund has returned 13% annualized since its inception, compared to 4.9% for its benchmark, the Russell Microcap index.
Q2 2022 hedge fund letters, conferences and more
Value Investing In A Turbulent Market
Writing in the update, the firm’s founder and chief investment officer Dave Waters says that he’s not worried about falling stock prices but rather the risk of a “permanent loss of capital.”
Rather than trying to identify the market’s highest quality companies and ignore the rest, the value-focused investor says...
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