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
One man's move to another state could cause the state government to rethink its budget. Of course this is not some ordinary man; it is New Jersey's richest man:... Read More
It’s becoming increasingly clear that the smart money is concerned about the level of bullishness in the US, including, Paul Singer, David Einhorn and Seth Klarman among others. That’s not... Read More
Passport Special Opportunities, a fund of Passport Capital, LLC the +$4 billion San Francisco based, global investment firm founded by John H. Burbank declined -9.8% net versus +1.2% for... Read More
From Whitney Tilson of T2 Parters:
Our fund rose 1.5% in April vs. -0.6% for the S&P 500, +0.2% for the Dow and -1.4% for the Nasdaq. Year to date, our... Read More
Get The Timeless Reading eBook in PDF
Get the entire 10-part series on Timeless Reading in PDF. Save it to your desktop, read it on your tablet, or email to... Read More
By Independent Trader
We definitely have an interesting day today. Although I was hoping for Brexit, I though British were too scared of the Armageddon announced by Cameron and whole... Read More
ValueWalk's Raul Panganiban interviews Dave Plecha, Global Head of Fixed Income at Dimensional Fund Advisors. In today’s episode we discuss Dimensional’s approach to fixed income investing.
The following is a... Read More
Oleo e Gas Participacoes SA (OGX) is in danger of losing its 40% stake in a Brazilian offshore oil concession if it is unable to repay $31 million that... Read More
The French election, held this Sunday, is tightening to within the statistical margin of error, a Deutsche Bank report notes. What could be the biggest risk to the market,... Read More
Activist hedge funds notched up another victory yesterday when network equipment maker Juniper Networks, Inc. (NYSE:JNPR) made a slew of announcements designed to please shareholders.
Succumbing to demands from Paul Singer... Read More
