TSLA - Fiduciary Management Small Cap Equity Q1 2022 Investment Letter
- Fiduciary Management, Inc. is an independent money management firm. FMI’s equity investing strategies apply a value discipline, with a focused approach firmly rooted in fundamental research.
- Since the Russian invasion of Ukraine on February 24, the market has moved in somewhat of a barbell fashion.
- If higher interest rates and inflation characterize the landscape for the next several years, it likely spells the end of the era of unbridled speculation and high multiples.
For further details see:
Fiduciary Management Small Cap Equity Q1 2022 Investment Letter