Investor Letter 4/2019

During the last three years, PYN Elite showed excellent performance compared with the VN Index for the first 10 months, outperforming the index return by roughly 100%, but for the last two years after that, the index return has outperformed us. In order to win back our track above the long-term return trend, we need one period of superb returns.

Investor Letter 4.2019.pdf