ACR 1Q21 Commentary: A Few Reflections On Risk
Alpine Capital Research commentary for the first quarter ended March 31, 2021, titled, “a few reflections on risk.” Q1 2021 hedge fund letters, conferences and more A Few Reflections on RiskThe past 15 months have been an economic rollercoaster: a pandemic, market crash, severe recession, polarizing election, and dazzling recovery. We have made the best of it. ACR strategy market values surged over the past six months on both an absolute and relative basis (for updated results see www.acr-invest.com/strategies). Intrinsic values have also grown, leaving the quarter-end price/value of our flags...