The malaise afflicting the small and midcap companies has now spread throughout the market. In fact, this correlation-one event is not just restricted to India. Remember, in our 2017 annual letter, we mentioned how 42 out of the 43 markets we track rallied last year? This year 37 of those markets are down. Investors are running away from anything that’s not America, fundamentals be damned
Notes & Letters
A collection of our thoughts, views, and excerpts from our investor letters.