Is Alibaba (BABA) Still a Safe Investment?

Palm Capital, an investment management firm, published its third-quarter 2021 investor letter – a copy of which can be downloaded here. Over the three months ending 30 June 2021, our portfolio increased by 0.5% after management fees & trading expenses. Since the fund started, three and a half years ago, its portfolio has returned 14.3% per annum after management fees & expenses. Palm Capital has outperformed the MSCI World Index by 3.9% per annum while holding better businesses and buying...