Fourth Quarter 2015 Investors Letter
“Successful Investing is anticipating the anticipations of others.”
John Maynard Keynes
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Quarterly Letter
Third Quarter 2015 Investors Letter
“As far as the laws of mathematics refer to reality, they are not certain; and as far as they are certain, they do not refer to reality.”
Albert Einstein
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Second Quarter 2015 Investors Letter
“You never want a serious crisis to go to waste.”
Emanuel Rahm
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First Quarter 2015 Investors Letter
“The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.”
George Soros
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