Corsair Capital Management Investor Letter: Concerns About Trump Tariffs, Tech Valuations

Jay Petschek (pictured below) and Steven Major’s Corsair Capital Management has delivered market-beating returns since its founding over 25 years ago, with annualized net returns of 12.3% since January 1991, beating the S&P 500 by an average of over 2 percentage points annually.

In its Q2 investor letter released in late-July, the fund expressed concern over the growing trade war being waged by U.S President Donald Trump against not only China, but also several of the United States’ longest...