LAZR - Kinsman Oak FY 2020 Letter To Partners

• Kinsman Oak Capital Partners Inc. is an independent Toronto-based boutique investment firm that strives to generate superior long-term results over multiple market cycles, net of fees.
• The performance of the Kinsman Oak Equity Fund was +9.6% for the year ended December 31, 2020, net of all fees and expenses.
• Bubble tops are commonly preceded by central bank tightening and rolling over fundamental indicators. We don’t envision a scenario where monetary or fiscal support is meaningfully withdrawn regardless of what happens to asset prices or inflation.
• The market is inhospitable to bears and short sellers. Current short interest is close to record lows as many participants have opted to throw in the towel.
• From a stock picker’s perspective, we see a lot of opportunity investing in off the beaten path ideas, where we find most of our success, and two large cap tech stocks we believe are relative bargains hiding in plain sight.

For further details see: