Säljer TARP warrant korgen

DETTA INLÄGG ÄR ETT UTDRAG UR KVARTALSBREVET JAG SKICKADE TILL PANDIUMS ANDELSÄGARE 31 JANUARI 2016.

I sold our basket of financial institutions that was described in the Q3 2014 letter. We made a 19% return during the 18 months we owned it. I sold the basket because I liked LUK’s risk/reward profile better and felt that we already had a too large exposure towards US financials.