Laughing Water Capital Q4 Investor Letter

Laughing Water Capital recently released its Q4 investor letter – you can download a copy below.

The hedge fund, led by Matthew Sweeney, reported a loss of 22.9% for the fourth quarter, bringing the full-year 2018 returns to a loss of 12.3%. Whilst the SP500 and R2000 fell 13.5% and 20.2%, respectively, in the fourth quarter, and 4.4% and 11.0% in for the year.

“The biggest problem that our stocks faced in the fourth quarter is that no one wanted to buy them, while some owners felt the...