- Rowan Street Capital, LLC is a global value-oriented investment firm that is focused on high conviction, high concentration investments with a long-term time horizon. We seek to invest in strong businesses, managed by good people that we can purchase at discounted prices in relation to their intrinsic value.
- Rowan Street was down -13% in Q3, causing our fund to decline -9.2% (net) year-to-date as of September 30.
- Spotify was the biggest contributor to our funds’ performance in 2020 and it's the second biggest detractor thus far in 2021.
- And even though China has the second largest and rapidly growing slice of the pie, at the risk of sounding redundant, we have concluded that we have ZERO edge in that part of the world no matter how attractive their future may appear with their high GDP growth, huge size of the population, rise of the middle class and incredible pace of innovation (arguably even higher than in the USA).
For further details see:
Rowan Street Q3 2021 Letter