Saber Capital Management letter to investors for the first quarter ended March 31, 2019.
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Dear Investment Partner:
As you know, Saber Capital Management is in the midst of a transition to managing money through a partnership structure instead of separate accounts. This is the first letter I’m sending to you as partners in our fund, and I wanted to use it to outline my reasoning for why I decided to make this important change. But first, I wanted to make some comments on last year’s performance, our recent results, and discuss our portfolio.
Results and General Commentary
The fund’s performance was underwhelming in 2018, finishing the year down 8.09%, net of all expenses. This...
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