At Prospector Partners, we’re winding down the year with thoughts of appreciation, gratitude, and optimism. That’s not to say we were unfazed by the events that contributed to volatility in the markets this past year. However, in the 25 years since founding Prospector Partners, we’ve seen that the right people, the right process, and patience can help investors ride out market turbulence. For us, that was certainly the case in 2022.

In the spirit of the season, we’d like to express our gratitude for a few of the “gifts” bestowed upon us this year.

• Our investors, whose trust and confidence inspire us to do our best work
• 25+ years of investing side-by-side with teammates who share common value-based principles
• Our co-workers, many of whom are making important contributions behind the scenes to help investors meet their objectives
• Our families, who support our passion for investing along with some long days at the office
• The end of an era of free money, which we view as a positive for our strategy
• A return to business fundamentals
• Signs that valuations once again matter
• Evidence that stock picking and active management are once again in vogue
  
  

From all of us at Prospector Partners, Happy Holidays and best wishes for a healthy and prosperous New Year.