Bretton Fund's letter to shareholders for the third quarter ended September 30, 2022.
Dear Fellow Shareholders:
With the S&P 500 down 23.87% year-to-date—the Bretton Fund is down 21.64%—we appear to be on our way toward the worst market downturn since 2008 when the market declined 37%. Given how high the stock market got in 2021, things aren’t as bad as they may appear, and we are starting to see hints of interesting opportunities in sectors that have fallen the most.
Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Prior to ValueWalk, Jacob was VP of Business Development at SumZero. Prior to SumZero, Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and three kids in Passaic NJ. - Email: jacob(at)valuewalk.com
FD: I do not purchase any equities to avoid conflict of interest and any insider information. I have a few existing holdings from years ago, but mostly mutual funds and some ETFs. I also own 2.5 grams of Gold
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