Browse the world's most comprehensive database of hedge fund investor letters, sorted by recent quarter. Access primary source research from leading institutional managers.
Browse the world's most comprehensive archive of hedge fund manager letters. Access primary source research from leading institutional managers, sorted by reporting period.
Castlebay attributes its recent underperformance to avoiding a handful of expensive, low-quality cyclicals that they expect will succumb to 'financial gravity.' The fund remains committed to high-ROE, strongly-branded compounders, exiting AutoZone on valuation and adding to Novo Nordisk, Domino's, Diageo, and LSE Group.
Full Quick Take
Castlebay attributes its recent underperformance to avoiding a handful of expensive, low-quality cyclicals that they expect will succumb to 'financial gravity.' The fund remains committed to high-ROE, strongly-branded compounders, exiting AutoZone on valuation and adding to Novo Nordisk, Domino's, Diageo, and LSE Group.
