2024-01-24 08:20:00 ET
Summary
- Old West Investment Management was founded based on the values embodied in the Code of the West. We are committed to treating our investors as we ourselves would like to be treated.
- The Old West portfolios underperformed their benchmarks in 2023, but our 3-year and 5-year numbers continue to be some of the best in the business.
- There is a lot to worry about in today’s world, but there is no greater threat to our country and our markets than our out-of-control budget deficits.
Dear Investor,
The stock market finished 2023 on a high note with the S&P up 11% in the fourth quarter and 24% for the year. The Russell 2000 Small Cap Index was up 17%. At year end, there was tremendous bullish sentiment among individual investors who are apparently ignoring many risks at home and across the globe. As impressive as the 24% gain was last year, it only got the market back to even after 2022’s 19% loss....
Read the full article on Seeking Alpha
For further details see:
Old West Investment Management Q4 2023 Investor Letter