Michael Kramer’s Mott Capital released its 2017 Q3 investor letter. You can download a copy of the letter below. The boldest statement in the investor letter is the following:
“Earning began turning higher following the second quarter of 2016, at which time the earnings on the S&P 500 over the trailing-twelve-months stood at $86.92. According to S&P Dow Jones Indices, since bottoming in mid-2016, the S&P 500 earnings are expected to surge by 51 percent, reaching $131.23 for the full year...
