RV Capital 2021 Year End Commentary: Carvana
RV Capital commentary for the year ended December 31, 2021, dicussing their new investment in Carvana Co (NYSE:CVNA). Q4 2021 hedge fund letters, conferences and more Dear Co-Investors, The NAV of the Business Owner Fund was €1'003.77 as of 30 December 2021. The NAV increased 15.1% since the start of the year and 911.6% since inception on 30 September 2008. The compound annual growth rate since inception is 19.1%. Part I: A New InvestmentI wrote in my first half letter of 2020 that I was keen to invest more in what I termed "early-stage growth companies". I am happy to report that I was able t...