Moon Capital Management, an investment management company, released its fourth-quarter 2023 investor letter. A year ago, a majority of the economists at 23 large financial institutions that conduct business with the Federal Reserve predicted an upcoming recession in the U.S. for 2023, indicating a challenging period ahead. Instead in 2023, the U.S. economy grew by over 3%, and the U.S. stock market had returns ranging from 14% to 24%. Moon Capital’s portfolio equaled the S&P 500’s 24%...
Moon Capital Management’s Q4 2023 Investor Letter
