Elm Ridge commentary for the fourth quarter ended December 31, 2021, titled, “The Punch You Don’t See.” Q4 2021 hedge fund letters, conferences and more “Graham and Dodd investors are people who place a very high value on having the last laugh. In exchange for the privilege they have missed out on a lot of laughs in between.” – Michael Lewis “It’s the punch you don’t see coming that knocks you out.” – Old Boxing Adage “Everybody has a plan until they get punched in the mouth.” – Mike Tyson Elm Ridge’s PerformanceDespite the weak performance of our energy holdings over the last two months,1 we …

Read More