Open Square Capital 2Q19 Commentary

Open Square Capital letter to investors for the second quarter ended June 30, 2019. Q2 hedge fund letters, conference, scoops etc Dear Limited Partners, We’re in a crucible. We’ve long been approaching it, guided by our decision to undertake an energy thesis based on the “wanton” notion that things that can’t go on forever will end. In the coming months we’re going to know whether we’re right, whether the decision to hold our investments after seeing the portfolio double and then retrace was sheer folly or uncommonly prescient. The surfeit of inventories and bearish headlines indicate the former, but our…