Donville Kent Asset Management commentary for the month of November 2024.
It has become a common opening comment for us to say that the overall thesis on declining rates, cheap small cap valuations, and cash on the sidelines continues to support strong returns. The fund was up 9.36%1 in October bringing the year-to-date return to 83.88%.
In this monthly update we will provide a brief update on these three investment tailwinds, but we will spend most of the time speaking to specific investments as we just completed a busy Q3 earnings season. Near the end of this commentary, we provide some more detailed discussion on specific investment valuations but also an overview of a general framework we use.
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