Tweedy, Browne Fund Q4 2023 Commentary

News Snapshot:

watchara_tongnoi Sparked by improving inflation data and increasing market optimism around the prospects for interest rate cuts early in 2024, global equity markets gained considerable momentum on the upside in Q4 2023 and finished the year with a "Santa Claus" rally that drove equity valuations materially higher. In the roughly eight-and-a-half-week period between October 27 th and year-end, the MSCI EAFE and World Indexes were up approximately 15% and 16%, and finished the full quarter up 10.42% and 11.42%, respectively. In this highly charged, momentum-driven, risk-on environment, the Tweedy, Browne Funds made considerable financial progress, but as one might expect,...