Letters by company
iShares MSCI ACWI ETF
2 letters discussing ACWI. Everything written about it on this site is on its ticker page.
- Quercus Fund 2024 Third Letter to Shareholders Asia Cement (China) was sold after its controlling shareholder made a lowball privatization offer, despite the company holding substantial net cash. Quercus Fund made no additions during the year, retaining concentrated holdings it considers deeply undervalued and recycling dividends toward the most attractive existing positions. 2024 (Jan-Sep) AMNTF $304MACWI
- Horizon Kinetics 2nd Quarter Commentary Horizon Kinetics argues that passive indexation has concentrated equity exposure in a handful of large technology companies as the disinflationary forces behind decades of margin expansion fade. It favors hard-asset exposure in the Permian Basin, particularly LandBridge, as AI-driven electricity and water needs raise the value of gas, land and infrastructure. 2nd Quarter 2024 LB $6.3BTPL $24B
