FPA Capital 4Q17 Letter – Why We Invest in Energy and Hold Cash

FPA Capital 4Q17 Commentary Almost 60% of the portfolio is invested in energy-related companies and cash; this compares to less than 5% in energy and 0% in cash for the Russell 2500 Why do we have such a large exposure to energy? Believe we are in the early stages of another historic multi-year oil bull […]

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