Longleaf Partners Funds, the suite of funds managed by billionaire Mason Hawkins‘ Southeastern Asset Management, recently released its shareholder letter for the third quarter of 2016. In it, Longleaf revealed its sterling third quarter performance, as three of its four U.S. funds greatly outdid their associated benchmarks, while all four have outdone their benchmarks by at least 8.62 percentage points over the last year.
Longleaf discussed the impact that the sustained low interest rate...
