Abacab Fund Sees Mispricing In Options As Black-Scholes Has Become “Inadequate”Rupert Hargreaves
Abacab Asset Management's flagship investment fund, the Abacab Fund, had a "very strong" 2020, returning 25.9% net, that's according to a copy of the firm's year-end letter to investors, which ValueWalk has been able to review.
Commenting on the investment environment last year, the fund manager noted that, due to the accelerated adoption of many technologies, the prices of some tech stocks became "stratospheric as the price per share soared beyond reasonable expectations."
The letter noted that while the firm admired many of these companies, buying stocks trading at historical unsustainable multiples was against its . . .
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