Bristlemoon December 2024 Quarterly Letter
Lessons on position sizing and reflections on our largest investment mistake
The Bristlemoon Global Fund returned 10.4 percent for the December 2024 quarter, net of fees. For the six month period ending December 31, 2024, the Fund produced a 17.8 percent return. In our quarterly letter below, we discuss our position sizing methodology, the mistakes we made in how we sized Pinterest, which was the Fund’s largest performance detractor since its inception, as well as other insights we have gained in managing the Bristlemoon Global Fund.
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Disclaimer / Disclosures
The information contained in this article is not investment advice and is intended only for wholesale investors. All posts by Bristlemoon Capital are for informational purposes only. This article has been prepared without taking into account your particular circumstances, nor your investment objectives and needs. This article does not constitute personal investment advice and you should not rely on it as such. This document does not contain all of the information that may be required to evaluate an investment in any of the securities featured in the document. We recommend that you obtain independent financial advice before you make investment decisions.
Forward-looking statements are based on current information available to the author, expectations, estimates, projections and assumptions as to future matters. Forward-looking statements are subject to risks, uncertainties and other known and unknown factors and variables, which may affect the accuracy of any forward-looking statement. No guarantee is made in relation to future performance, results or other events.
We make no representation and give no warranties regarding the accuracy, reliability, completeness or suitability of the information contained in this document. To the maximum extent permitted by law, we do not have any liability for any loss or damage suffered or incurred by any person in connection with this document.
Bristlemoon Capital Pty Ltd (ABN: 22 668 652 926) is an Australian Financial Services Licensee (AFSL Number: 552045).
George Hadjia is associated with Bristlemoon Capital Pty Ltd. Bristlemoon Capital may invest in securities featured in this newsletter from time to time.
Great read. Appreciate you sharing as you build Bristlemoon - all the best this for this year.