JDP Capital Management 2020 Annual Partnership Letter: Long Stone, Roku, Spotify
JDP Capital Management annual partnership letter for the year ended December 31, 2020, providing a commentary on our largest positions Spotify, Roku, and Stone. Q4 2020 hedge fund letters, conferences and more Dear JDP Partner, Two thousand and twenty was a remarkable year for our portfolio companies and for JDP. The Partnership was up 109.4% net of fees compared to 18.4% for the S&P 500 including dividends. Performance in 2020 was an extra-ordinary to the upside, just like 2018 was extra-ordinary to the downside. Partners should think of returns in a single year as a building block supporting...