Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

MPE Capital’s 2019 First-Half Letter to Investors

MPE Capital, founded by Michael P. Ershaghi, recently released its 2019 First-Half Letter, a copy of which you can download below.This is an investment management firm with a long-term horizon. In the letter, MPE Capital reported net return of 12.4% for non-qualified clients and 11.7% for qualified clients.

“Dear Fellow Investors,

For the first half of 2019, MPE Capital generated net returns of 12.4% for non-qualified clients and 11.7% for qualified clients. Our benchmark, the S&P 500 TR, gained 18.5% for the same time period. Our large cash balance after selling a position earlier in the year was a drag on performance, as well as the continued separation between business results and the market price of one of our holdings (which I will discuss later on).

I’ve amended the 2017 and 2018 net results in the table above because there was a small error in my calculations. This resulted in a very small discrepancy of less than 0.40%, but I want the figures to be as accurate as possible. All returns are based on an actual model account that has been open since inception. Due to the method in which Interactive Brokers charges fees, actual client statements will slightly overstate returns, as some fees for the previous period are shown in the following period statement.”

You can download a copy of MPE Capital’s 2019 First-Half Letter to Investors here:

MPE Capital’s 2019 First-Half Letter to Investors

You can also see the list of our 2019 Q2 investor letters and download them on this page.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...