Horizon Kinetics Q1’18 Investor Letter

Horizon Kinetics recently published its 2018 Q1 investor letter (a copy of which can be download below).

In the letter, the investment firm discussed these topics: Anatomy of Systemic Risk; The False Premise of Large Scale Passive Investing: The Free-Ridering Phase of Indexation is Expiring; Are Index Funds Part of Float?; What is the Amazon Index Weight? Bet You Don’t Know; and Portfolio Weightings in Inflation Beneficiary and Other Non-Correlated Securities.

Horizon Kinetics, founded in 1994, is an independently owned and operated investment firm. It employs a long-term, contrarian, fundamental value investment philosophy. The firm has over 70 employees, with primary offices in New York City and White Plains, New York.

You can download Horizon Kinetics’ investor letter here.