Bronte Amalthea Fund Incurred Loss in Karuna Therapeutics (KRTX) Short Position

Bronte Capital, an investment management company, released its “Amalthea Fund” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. The fund lost -2.12% in December, -0.97% for the quarter, and gained 15.60% for the calendar year. Compared to that, the MSCI ACWI index had gains of 1.28%, 4.63%, and 21.92% (in $A) during those periods, thanks to its global diversity. This quarter, and particularly in December, the market has been actively hostile to the...