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BUDFF - Broyhill Asset Management - H2 2021 Letter
Anheuser-Busch InBev SA/NV
Broyhill Asset Management is a boutique investment firm, initially established as a family office in 1980 and guided by a disciplined value orientation. We operate outside of the fray and invest with a rational, objective, long-term perspective.
While the broader markets also posted another strong year in 2021, it appears that the tide is going out in 2022.
Common sense and basic arithmetic suggest that after three years of returns north of 20% annually, markets are likely to provide more meager (if any) returns for the next few years.