Laughing Water Capital recently published its Q2 investor letter – you can download a copy below. The hedge fund, led by Matthew Sweeney, returned 2.9% during the second quarter, bringing net returns for the first half of 2018 to 10.8%. Whilst the SP500 and R2000 returned 3.4% and 7.8%, respectively, in the quarter, and 2.7% and 7.7% in the first half.
“I have no idea what the market will do in the coming months or quarters. As always, there are reasons to be negative in the near term. The...
