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Bireme Capital

April 21, 2024
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Bireme capital is a value driven hedge fund that focuses on market inefficiencies and mispricings by taking advantage of behavioural biases in the stock market. 

One of their favourite behavioural biases they try to exploit is called representation bias. Representation bias occurs in the stock market when a whole industry is penalised due to perceived unfavourable characteristics e.g. automotive industry. However, there may still be some companies within said industry that could be a great investment opportunity. 

Since starting the fund in 2016, the fund has compounded at 27.5% per year compared to the SP500 return of 11.5% per year. More noteworthy, the fund generated a positive return in 2022 while a lot funds and indices were down significantly.

Luckily, there is quite a bit of resources available to learn more about the fund.

YouTube:

Interview with famous investment author Tobias Carlisle:

https://m.youtube.com/watch?v=6SY16gkPQhc

Presentation:

Company's own presentation on strategy:

http://fv.biremecapital.com/

Blog posts:

Company's own blog and letters:

https://www.biremecapital.com/blog


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