Dear Partner,
In the second quarter of 2020 Woodbridge Capital Partners (the “Partnership”) returned 67.41% while the S&P 500 returned 19.95%.
This seemingly stellar performance should be qualified by the fact that in the first quarter of 2020 the Partnership returned -52.64% while the S&P 500 returned -20.00%. We anticipate that the volatility of your investment will continue to be significantly higher than that of the S&P 500. At times, this creates attractive opportunities for additional investment, such as the end of the first quarter when fears about COVID-19 and the global economy were at their highest point. Those investors who were willing and able to take advantage of this opportunity should be pleasantly surprised at their account balances found below.
We appreciate the trust that you have placed in us to manage your money. It is a responsibility that we take very seriously. Kyosuke and I both have the majority of our net worths invested in the Partnership and your money will always be invested the same way that ours is. We reiterate our objective of outperforming a low-cost S&P 500 index fund over the long term and we believe that we are well positioned to do so.
Thank you,
Jesse Flowers & Kyosuke Mitsuishi