Bretton Fund's letter to shareholders for the third quarter ended September 30, 2022.
Dear Fellow Shareholders:
With the S&P 500 down 23.87% year-to-date—the Bretton Fund is down 21.64%—we appear to be on our way toward the worst market downturn since 2008 when the market declined 37%. Given how high the stock market got in 2021, things aren’t as bad as they may appear, and we are starting to see hints of interesting opportunities in sectors that have fallen the most.
Q3 2022 hedge fund letters, conferences and more
Total Returns as of September 30, 2022
| 3rd Quarter | 1 Year | 3 Years | 5 Years | 10 Years | Since 9/30/10 Inception |
|
| Bretton Fund | -4.12% | -12.91% | 6.30% | 9.94% | 9.24% | 10.29% |
| S&P 500 Index | -4.88% | -15.47% | 8.16% | 9.24% | 11.70% | 12.21% |
(A) All returns include change in share prices and, in each case, include reinvestment of any...
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