Vailshire Partners Hedge Fund Client Memo — 1Q 2023

To clients and friends of Vailshire Partners LP hedge fund: 2022 was difficult and 2023 is starting out… interestingly Vailshire Partners LP’s trading system (version 2.0) is fully operational Buy-and-hold is dead. Nimbleness is the way Performance Review Good Riddance: 2022 Was a Tough Year After a tough start to the year, Vailshire’s proprietary trading system (implemented in mid-June) performed …

December 2022 Update for Vailshire’s Separately Managed Account Clients

Greetings! I hope each of you had a wonderful Thanksgiving, surrounded by those you love. I drove my family 1,000 miles (each way) to celebrate with extended family and friends in Minnesota… which was really fun and relaxing. Our 19-year old minivan notched another epic road trip onto its belt! (Graph: The S&P 500 rose above its 200-day moving average …

Vailshire Partners Hedge Fund Client Memo — 4Q 2022

To clients and friends of Vailshire Partners LP hedge fund: It will get worse before it gets better After a slow start, Vailshire Partners LP’s long-term trading system is finding its groove Unfortunately, bitcoin has yet to find a bottom Performance Review A Strong Finish Following A Slow Start As stated in my 3Q 2022 update, Vailshire Partners LP fully …

October 2022 Update for Vailshire’s Separately Managed Account Clients

Autumn has arrived here in Colorado! I hope each of you is doing well. (Graph: The S&P 500 is down a whopping -17% since its epic “fail” on 16-August-2022!) Current Market Conditions They call me “Dr. Bear” on Twitter for a reason. Almost every day, I speak on a live Twitter Spaces event or a podcast interview, telling people about …

September 2022 Update for Vailshire’s Separately Managed Account Clients

Greetings from Colorado! I hope each of you is doing well. Current Market Conditions High levels of inflation continue to dominate the headlines, while the world’s economic engine sputters. The disinflation relief rally in risk assets that began in mid-June from deeply oversold levels came to an abrupt end in mid-August. As a primary example, the S&P 500 (see the …

August 2022 Update for Vailshire’s Separately Managed Account Clients

Current Market Conditions As expected, economic conditions in the United States and throughout most of the world have gone from bad to worse. Earlier in July, the consumer price index (CPI) for June was released, revealing a 9.1% year-over-year increase. This inflation metric was at a 40 year high! Last week, official gross domestic product (GDP) numbers for the second …

Vailshire Partners Hedge Fund Client Memo — 3Q 2022

To clients and friends of Vailshire Partners LP hedge fund: The Fed is tightening into an economic slowdown… buckle up “Demand destruction” is working, but at what cost to humanity? Vailshire Partners LP’s proprietary trading system is working quite well, even in this difficult macroeconomic environment Performance Review Economic Slowdown and Fed Tightening Roil Markets Sticky high inflation and ongoing …

July 2022 Update for Vailshire’s Separately Managed Account Clients

Happy Independence Day! I hope all is well with each of you and that you have some time to ponder and celebrate freedom in the coming days. Current Market Conditions The bad economic news is starting to pile up… and it is truly awful. While the Fed raises the federal funds rate to “cool off” our “strong” economy, the market …

June 2022 Update for Vailshire’s Separately Managed Account Clients

Hello from Colorado! Our kids are finished with the school year and are home for the summer. My wife and I are ecstatic to spend some quality time with them in the coming months. I hope each of you is doing well. Current Market Conditions The macroeconomic conditions in the United States and across most of the developed world are …