Lumiere Capital Letter To Investors 2017 Full Year Review

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About: Fanhua Inc. (FANH), CINSF, SFUN, CAOYF, HOPE-OLD, GLBRF, TPVTF, TPVTY, TAOHY, DWNYF, TVZIF, Includes: ADRA, AIA, EWH, FCHI, FHK, FLHK, IPAC, RFAP, VPL
by: Fund Letters
Summary

Includes detailed analysis of Lumiere Capital's positions in FANH, CINSF, SFUN, CAOYF, HOPE-OLD, GLBRF, TPVTF, TPVTY, TAOHY, DWNYF, TVZIF.

The last year has been very conducive for big cap consensus views which has seen indices globally rise considerably, while the contrarian, deep value philosophy which we embrace has not worked out as well.

However with valuations of big cap growth stocks no longer cheap, market focus could shift to under-researched and undiscovered small/mid cap stocks which are still trading at low valuations.

Editor's Note: This article covers one or more microcap stocks. Please be aware of the risks associated with these stocks.