Hayden Capital 2Q19: Valuation Of Early Stage Businesses

Hayden Capital commentary for the second quarter ended June 30, 2019.

Dear Partners and Friends,

Our portfolio continued its recovery in the second quarter, and at a stronger pace than the broader market indices. During the second quarter, our portfolio appreciated +11.98% (net of fees), compared with the S&P 500 at +4.30% and the MSCI World index at +3.45%.

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