Laughing Water Capital’s Q4 2021 Investor Letter

Laughing Water Capital, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be downloaded here. For the fourth quarter of 2021, an investment in Class A shares of Laughing Water Capital (“LWC”) returned less than 1% vs 11.0% and 2.1% for the SP500TR and R2000 respectively. For the full year, LWC returned approximately 39%, vs. 28.7% and 14.8% for the SP500TR and R2000 respectively.  Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.