Night Watch Investment Management, an investment management company, released its fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. In the fourth quarter the fund LP depreciated by -2.92% net of fees and ended the quarter at 10.30%. In the fourth quarter of 2024, the market experienced significant volatility. The initial excitement following the US elections quickly gave way to discouragement as rising inflation figures prompted the Federal Reserve to revise their interest rate cut expectations for 2025 downward. In addition, please check the fund’s top...
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