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Perimeter Solutions (PRM) Declined in Q1 Despite Strong Results

Weitz Investment Management, an investment management firm, released its “Multi-Cap Equity Fund” first-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund’s Institutional Class returned +0.81% in the first quarter compared to -4.72% for the Russell 3000. In late January, the “AI Trade” faced a challenge when the Chinese company DeepSeek revealed that it had created an advanced AI model significantly lower cost than its U.S. counterparts. This announcement resulted in increased scrutiny from investors regarding the spending strategies of US firms....