Vltava Fund

Vltava Fund 4Q16 Letter – The Kelly Criterion

Vltava Fund letter to shareholders for the fourth quarter ended December 31, 2016; titled, "The US Election And The Kelly Criterion."
2016 Hedge Fund Letters
2016 Hedge Fund Letters

Dear shareholders,

In the fourth quarter of 2016, the Fund’s NAV grew by 8.4 %.

The biggest event of late last year was the US presidential election. As the election date approached, we were flooded from all sides with advice and tips on how to make the best investment bet on the result. The majority of investment recommendations . . .


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