Culibrk Partnership goal is to achieve superior long-term returns while limiting the possibility of a permanent capital loss.


Aim to achieve the goal by investing in businesses and situations undervalued due to Mr. Market’s:


1) Obsession with the short-term (what is next vs. what is it worth)

2) Confusion by perceived corporate action and/or business model complexity

3) Ignorance of capital allocation and management incentives

Return period Jan 2015 – Sep 2018. Culibrk Partnership is a return net of trading expenses for accounts managed by Stefan Culibrk.

For a more detailed analysis of Culibrk Partnership investments, thought process and contributions to the returns, please see letters.


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