Riverwater Partners Small Cap Q4 2025 Letter
2026-01-15 05:25:00 ET
The Four-Year Harvest
Avocado trees take three to four years to bear first fruit and four to five years to reach full production. You can’t rush biology. A farmer who plants an orchard today is making a bet on conditions years into the future—conditions that are impossible to predict with certainty. The work happens anyway, because the alternative is having nothing ready when it’s time to harvest. Or… having no guacamole....
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Riverwater Partners Small Cap Q4 2025 LetterNASDAQ: LMNR
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