Arquitos Capital Management 4Q20 Commentary “A Heads I Win; Tails I Don’t Lose Much Situation”
Arquitos Capital Management commentary for the fourth quarter ended December 2020, discussing the risk of permanent capital loss. Q4 2020 hedge fund letters, conferences and more “Remember that you are a Black Swan.” - Nassim Nicholas Taleb Dear Partner: Arquitos recorded a strong fourth quarter, returning 28.0%. Unfortunately, it wasn’t quite enough to pull us positive on the year, as we ended 2020 with a return of -2.3%. A Heads I Win; Tails I Don't Lose Much SituationIn last quarter’s letter, I discussed the need to be more nimble with the portfolio. Since writing that, we have opened a siz...