Commentary
Quarterly commentary by Alpine Private CapitalA Historic Divergence
US markets ran hot in 1Q with the S&P 500 posting a 13.7% total return – a whopping 68.0% if annualized. ACR’s flagship EQR strategy poked along at 5.1% – a more pedestrian 22.1% if annualized. In our opinion, quarterly market “returns” are a better reflection of investor psychology than of concrete economic results.
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