Solid week of performance for the fund leading to another new high mark. Better than this, is news giving the sense that the intrinsic valuation of a number of our larger holdings is running away from share price. Good things eventually follow when this is the case.
When I sat down to do the numbers, I had thought it was a really wonderful week for our portfolio. I figured we’d be at a new all-time high and we were, but the market still trounced us this week. The 4.00% gain was the 5th biggest week for the benchmark since the fund started and we are too index unaware to keep pace with such a meteoric rise without something unusual happening to one of our larger holdings.