Should You Invest in Inter Parfums (IPAR)?

Headwaters Capital Management, an investment management company, released its fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. The fund increased by +18.1% (+17.1% net) in the fourth quarter compared to a +12.8% return for the Russell Mid Cap Index. For the full year, the fund returned +34.8% (+33.0% net) compared to a +17.2% return for the index. The extraordinary strength of the fourth quarter 2023 market returns was fueled by investor optimism that...