Can Taiwan Semiconductor Manufacturing Company Limited (TSM) Grow Its Earnings in the Coming Years?

Baron Funds, an investment management company, released its “Baron Emerging Markets Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund gained 8.58% (Institutional Shares), compared to a 9.70% return for its principal benchmark, the MSCI EM Index, and a 9.28% gain for the MSCI EM IMI Growth Index. In the year, the fund declined 25.82% compared to the MSCI EM Index’s 20.09% decline and the MSCI EM IMI Growth Index’s...