BAMGF - Silver Beech Capital Q1 2024 Investor Letter

2024-05-15 22:45:00 ET

Summary

• Silver Beech is a value-oriented, fundamentals-driven investment firm that targets high-quality but misunderstood North American businesses and special situations.
• Silver Beech Capital has achieved a 23.3% annualized return since inception, outperforming the S&P 500 by 11.3%.
• The market's speculative excesses, exemplified by the surge in share prices of certain companies due to social media posts, highlight the role of human nature in market booms and busts.
• Silver Beech's portfolio is comparatively inexpensive but possesses similar growth and operating metrics as the S&P 500.

Dear Fellow Investors and Friends,

The estimated first quarter 2024 and historical net performance for Silver Beech Capital, LP ("the Fund" or "Silver Beech") is presented below....

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