WLLSF - Bonhoeffer Capital Management Q4 2021 Letter
- The Bonhoeffer Fund, LP, is a value-oriented investment partnership. The fund's objective is to grow capital at a faster rate than market indices over full market cycles and provide minimal.
- Multiples are lower than the previous quarter primarily due to increasing earnings and declining share prices.
- Our investment universe has been extended beyond value-oriented special situations to include growth- oriented firms using a value framework.
- One of the first steps in our investment process is to develop a five-year earnings and free cash flow forecast.
For further details see:
Bonhoeffer Capital Management Q4 2021 Letter