2024-05-17 09:45:00 ET
Summary
- Silver Ring Value Partners provides investment advisory services. The Company offers portfolio management, financial planning, and trading services. Silver Ring Value Partners serves investors in the State of Massachusetts.
- I have made expressive progress on several fronts during the quarter, although that is not yet reflected in our results.
- I added a new investment in Phinia (PHIN) to the portfolio.
- Going forward, you should expect a mo rebalanced portfolio without sacrificing long-term returns.
Dear Partners:
I hope that you are doing well. I have made meaningful progress on several fronts during the quarter, although that is not yet reflected in our results:
- I added a new investment in Phinia ( PHIN ) to the portfolio.
- I have evolved my investment process in a way that I believe will lead to better long-term results and a more balanced portfolio, which I will describe later in this letter.
- I have done substantial research on several potential new investments, and while none of them have cleared the high bar for making it into the portfolio yet, it’s possible that one or more will soon.
Unfortunately, there has not been a substantial change in the investment environment since I last wrote to you. The markets are still far closer to the “greed” extreme of the spectrum than they are to “fear”, and I view the overall opportunity set as one where it is very challenging to find investments that combine both a meaningful undervaluation and sufficient quality....
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For further details see:
Silver Ring Value Partners Q1 2024 Letter