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What Makes A-Mark Precious Metals (AMRK) a Unique Investment?

Praetorian Capital, an investment management company, released its third-quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund was down by 2.29% net of fees in the third quarter. The core portfolio positions mostly declined in the quarter, while the Event-Driven book produced a slightly positive return. In the first nine months, the net performance was mostly driven by the Event-Driven book, with a modest negative return from the core book. For more information on the fund’s top picks in 2024, please check its top five holdings.

Praetorian Capital...