Andvari Associates, an investment management firm, released its third-quarter 2024 investor letter. A copy of the letter can be downloaded here. For the nine months of 2024, the portfolio appreciated 20.3% net of fees while the SPDR S&P 500 ETF rose 21.9%. Andvari’s net performance started to catch up with the market in July and August. Investors switched from the biggest and best-performing S&P stocks to several of Andvari holdings that had been underperforming the market. In addition, you...
Arthur J. Gallagher & Co. (AJG) is Creating Value Through M&A
