Peterson Investment Fund I letter to investors for the third quarter ended September 30, 2023.
“The world is full of foolish gamblers, and they will not do as well as the patient investors.” - Charlie Munger
1) Performance and Overview
Peterson Investment Fund I posted an impressive return of 8.83% during Q3 2023, net of all fees and expenses. This achievement is particularly noteworthy when compared to the S&P 500's decline of 3.3%, including dividends, over the same period. Cumulatively for 2023, our fund has generated a net return of 26.1%, while the S&P 500 has advanced by 13.1%.
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