23% of the US is Illiterate. Illiterate is defined as Americans who lack basic skills beyond the fourth grade level. Besides for the human tragedy, economists estimate that over $200 billion is sucked out of the economy every year due to the high illiteracy rate. Depressed yet? If not see the infograph below, if yes prepare to get more gloomy.
Gates Capital Management's ECF Value Funds have a fantastic track record. The funds (full-name Excess Cash Flow Value Funds), which invest in an event-driven equity and credit strategy, have produced a 12.6% annualised return over the past 26 years. The funds added 7.7% overall in the second half of 2022, outperforming the 3.4% return for Read More
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