Bireme Capital
  • Home
  • Blog
  • CIO Corner
  • In the news
  • About us
  • Contact

4Q21 FV Quarterly Letter

1/31/2022

 

Fundamental Value had its best year ever in 2021, returning 48.5% net of fees vs 28.7% for the S&P 500. The strategy has now compounded at 25.9% net of fees since inception in June of 2016, beating the market by 800 bps annually over more than half a decade. While this level of absolute returns is unlikely to be sustainable, we are as confident as ever in our ability to significantly outperform a still richly-valued equity market.1

Market commentary

It was only four months ago when we published Part III: Apex of a Bubble. We said that the US capital markets were mired in an “everything bubble,” presaging real returns that investors would find severely disappointing – and likely negative – for many years to come. And we predicted an imminent top and a proximate cause:

Read more

Comments are closed.

      Follow our blog.

    Subscribe

    Schedule time with me!

    Follow @evantindell
    Tweets by evantindell

Telephone

813-603-2615

Email

info@biremecapital.com

Disclaimer

See here for important disclosures.
  • Home
  • Blog
  • CIO Corner
  • In the news
  • About us
  • Contact