Investor Letters
Letters through December 31, 2021
1 letter reporting on the period ending December 31, 2021, in each firm's own reckoning.
- Bireme Capital 4Q21 Quarterly Report Bireme Capital argues that inflation and eventual monetary tightening will end the speculative equity boom and favor value-conscious investors. The portfolio added a long position in Tencent Music while shorting Affirm, EV charging companies and speculative EV names, and it sees Bollore's African-operations bid as validating a much higher sum-of-the-parts value. 4Q21 TME $14BAFRM $26BARKK
