Letter to our co-investors 2Q23

Dear co-investor, These are good times for Horos because, at this moment, almost all of our more than 3,000 clients have positive returns with their investments in our funds and pension plan. A…

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Letter to our co-investors 1Q23

Dear co-investor, New year, new turmoil? The major stock markets of the world ended the first quarter of the year with solid gains, but overshadowed by a banking crisis not seen since 2008. Against…

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Letter to our co-investors 4Q22

Dear co-investor, The fourth quarter of the year was a relief for most markets, reducing part of the significant losses accumulated over the previous nine months. Our portfolios were not immune to…

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Letter to our co-investors 3Q22

Dear co-investor, During the third quarter of the year, the challenges that many economies are experiencing in reconciling a tight monetary policy with a recessionary economic environment were…

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Letter to our co-investors 2Q22

Dear co-investor, During the second quarter of the year, the dynamics that we have been discussing in previous quarterly letters have not changed. The damaging effects of the energy transition…

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Letter to our co-investors 1Q22

Dear co-investor, The new year began with three major sources of uncertainty that will condition the rest of this year's market performance: the economic situation in China, the impact of the Russian…

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