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Rebellion Research 2022 Annual Investor’s Letter

Rebellion Research 2022 Annual Investor’s Letter

Dear valued investors,

We are pleased to report that our fund had a relatively successful year in 2022, outperforming the S&P 500 index by investing in oil and avoiding technology. However, we are still disappointed to report losses of 15.6% for the Rebellion Research Ai Equity strategy. 

The Ai’s strategy of emphasizing the energy sector paid off as oil prices rebounded and the demand for fossil fuels remained strong. We carefully selected investments in companies that were well-positioned to benefit from these market conditions, and our research and analysis proved to be accurate.

Additionally, the Ai decided to avoid technology, believing it to be overvalued and uncertain. This decision also contributed to our strong relative performance as technology stocks underperformed during the year.

The mistake was waiting too long to build the energy exposure, which unfortunately did not occur until late spring. The Ai has been bearish on the technology sector in the US since fall of 2021.

As 2022 was the worst bond year in decades, the unprecedented drop in bond values contributed to the decline of the Rebellion Research Absolute Return strategy.

We would like to thank our investors for entrusting us with their capital, and we look forward to delivering strong returns in the future.

Sincerely,

Rebellion Research

Rebellion Research 2022 Annual Investor’s Letter

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