Geopolitical Uncertainty Dragged Baidu (BIDU) in Q4

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...