The Castle Focus Fund (MOATX) finished the year 2012 up 2.57% while the S&P 500 was up 16.00%. Some of our underperformance was attributable to our cash position. We started... read more →
Fourth Quarter Letter Market Comments Benjamin Graham, the father of value investing, once theorized that speculators prosper through ignorance, as knowledge is not necessary during bull markets and experience acts... read more →