Khrom Capital on Investing Versus TradingVW Staff
Attached, please find a copy of Khrom Capital's quarterly letter.
In the first quarter ending March 31st, 2013, the fund returned 30.4% gross, or 23.0% net of fees and expenses. Below are the net annualized returns of the fund over different time periods.
NET Annualized Returns:Last 12 months: 50.9%
Last 3 years: 30.5%
Since inception (March 2008): 23.3%
We ended the quarter with 64% of the fund’s assets in cash–a historical high for us. This balance may soon shift. We are investigating new opportunities, which we cannot yet disclose. Hence, this . . .
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