"The Vintage Year" (later retracted)
Dear Limited Partners,
[RETRACTED]
The original 2024 letter, in which I declared this "the vintage year" and "the finest cohort of investments in the firm's history," has been withdrawn in its entirety. We regret the letter. We regret the vintage. We regret the year.
At the time of writing the original, our AI-forward portfolio was valued at levels that can only be described as "fictional," a description that later proved more literal than intended. We declared victory. Victory declined to attend.
In the interest of accuracy, the phrase "vintage year" has been struck from the record and replaced with the phrase "we'd rather not discuss it." Any LP in possession of the original letter is kindly asked to delete it, forget it, and resist the urge to read it aloud at the annual meeting.
With corrections,
Chadwick "Chad" Burnsworth III
Managing Partner