Laughing Water Capital Q2 Investor Letter

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 possibility of trade wars and the coming mid-term elections will likely contribute to volatility. That being said, it is often difficult for the market to reflect negative news when so many people are anticipating it, and the market may continue to march higher. From our perspective, what happens to the market in the near term should mostly be ignored. Rather, the performance of our businesses and management partners over time will drive our results over time,” Sweeney, the founder and managing partner of Laughing Water Capital, said in the letter.

Click here to download the letter.