Old West Investment Management’s Q4 2023 Investor Letter

Old West Investment Management, Llc, an investment management company, published its fourth quarter 2023 investor letter. The stock market ended 2023 on a positive note, with the S&P up 11% in the fourth quarter and 24% overall. The Russell 2000 Small Cap Index rose 17%. At the end of the year, many individual investors displayed a bullish sentiment, seemingly ignoring numerous risks both at home and around the globe. In 2023, the Old West portfolios failed to meet their benchmarks, marking...