Global Return Asset Management

Global Return Asset Management 2Q16 Commentary

Global Return Asset Management commentary for the second quarter ended June 30, 2016.

Dear Friends,

Year-to-date, after fees and expenses, we generated a 0.13% return and have nearly 20% of assets in Cash.

In terms of buy and sell activity, Q2 was one of our most active quarters:

This first section of this letter discusses how we improve our performance. I then highlight . . .

SORRY!

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