By Jacob Wolinsky. Originally published at ValueWalk.
Livermore Partners update for the month of March 2022, titled, “A New World Order.”
Q4 2021 hedge fund letters, conferences and more
To Partners and Friends,
A New World Order
I am certain all of you are very informed of the disturbing and unprovoked attack on Ukraine. War is never good so it is very hard to watch the events of the past month. Horrific to see and a great tragedy for the Ukrainian people.
With that, markets have been extremely volatile and a true shock in commodity markets are unfolding before our eyes. Crude oil is trading well above $100bbl+ and agriculture commodities are limit up with May Wheat over $12 a bushel.
Add to this complexing situation is an already 40-year high in the inflation rate and slower global growth.. Along with a Federal Reserve attempting to normalize interest rates and reduce their vast balance sheet, and you have the potential for an economic event of major proportions to occur.
Financially speaking, our hedge fund has been set up to defend all the issues discussed therefore today, Livermore is continuing to outperform indexes and insulate investors from losses. Our calls on both the market, overvalued technology stocks, and owning hard assets may have been early, but so far is working out to plan.
February was another troubled month for markets as a whole but the fund made it through unscathed. Livermore Strategic Opportunities LP was flat for February as we held onto our 7% YTD gain. Although, through just the first 5 days in March (given the spike in front month crude), things are looking up once again. Now providing Livermore with an 8%+ YTD gain just as many have witnessed large drawdowns in their portfolio.
Please reach out with any questions. I am hoping we will again have peace in the world and everyone receiving this note is safe and sound. Including family or friends nearest to the conflict.
With heartfelt wishes,
David Neuhauser
CIO
Livermore Partners
Updated on
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