Letter to Shareholders Q4 2013

“Even after the strong performance in 2013, we still believe that equity is the most attractive asset class."

...These are encouraging times for value investors.

In his latest Letter to Shareholders, Jens Moestrup Rasmussen, Head of Sparinvest’s Value Equities team notes that 2013 was a year in which markets began ‘sorting the sheep’ again resulting in ‘much more of a stock-picker’s year than we have seen in a long time’. He also investigates the considerable valuation gap that has opened up between ‘cheap’ and ‘expensive’ stocks to see what opportunities it holds. Read the Letter to Shareholders here. 


Our mission is to deliver the best long-term performance with a strong emphasis on risk. Based on a systematic and objective approach to investment - and a great commitment.


Privacy policy   |   Cookie policy

Before continuing, please refer to the “Terms of use”. Availability of our products and services is subject to certain restrictions, products and services may be  excluded in some countries. Copyright 2013 by Sparinvest S.A. - all rights reserved.

Please read these conditions before continuing. The products and services offered on this website are not available to persons with residence in particular countries. Please take note of the currently valid sales restrictions for the respective services.