Absolute return 1 U.S. equity performance

Absolute Return Letter: Six Months of Nothing

Absolute Return Partners letter

October 2014
Six Months of Nothing

“Imagination is a poor substitute for experience.” - Havelock Ellis

H/T ValueInvestingWorld

The accident

It was late in the evening of the 12th March. I was going to bed early as I had a big day ahead of me. Cycling is my sport and I had lined up a handful of Danish friends for a challenging few days in the mountains of Majorca, the beautiful Spanish island. We were all keen cyclists and wanted to take advantage of the early arrival of spring . . .


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