![]() This process, as we can attest, can seem to be maddeningly random and contrary to our desires, which of course would be "1% a month." But it sure is a lot more fun when things fall our way! So our near-term performance is the result of idiosyncratic changes in the perception of our investments by the world at large, but in the longer run the public value of our investments will tend to coalesce around reasonably proper estimates of actual value. different from the indices to which we are commonly compared. We would again note that we think intelligent portfolio concentration is part of the value we offer partners for our active management fee, and thus shorter-term results can. Our performance continued its solid upswing in the second calendar quarter of 2023 on both absolute and relative terms. ![]() We think we have purchased enough margin of safety to generally hold down the capital fort, and we see enough stock specific catalysts to drive solid absolute and relative performance.Performance continued its solid upswing in the second calendar quarter of 2023 on both absolute and relative terms.Cove Street Capital manages assets for a global mix of institutions, foundations, family offices, and high net worth individuals on a separate account, mutual fund, and sub-advisory basis, utilizing a research-intensive, concentrated value-based strategy.
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