2024

September 2024
Letter to Shareholders
Issue 95

August 2024
Letter to Shareholders
Issue 94

July 2024
Letter to Shareholders
Issue 93

June 2024
Letter to Shareholders
Issue 92

May 2024
Letter to Shareholders
Issue 91

April 2024
Letter to Shareholders
Issue 90

March 2024
Letter to Shareholders
Issue 89

February 2024
Letter to Shareholders
Issue 88

January 2024
Letter to Shareholders
Issue 87

2023

December 2023
Letter to Shareholders
Issue 86

November 2023
Letter to Shareholders
Issue 85

October 2023
Letter to Shareholders
Issue 84

September 2023
Letter to Shareholders
Issue 83

August 2023
Letter to Shareholders
Issue 82

July 2023
Letter to Shareholders
Issue 81

June 2023
Letter to Shareholders
Issue 80

May 2023
Letter to Shareholders
Issue 79

April 2023
Letter to Shareholders
Issue 78

March 2023
Letter to Shareholders
Issue 77

February 2023
Letter to Shareholders
Issue 76

January 2023
Letter to Shareholders
Issue 75

2022

December 2022
Letter to Shareholders
Issue 74

November 2022
Letter to Shareholders
Issue 73

October 2022
Letter to Shareholders
Issue 72

September 2022
Letter to Shareholders
Issue 71

August 2022
Letter to Shareholders
Issue 70

July 2022
Letter to Shareholders
Issue 69

June 2022
Letter to Shareholders
Issue 68

May 2022
Letter to Shareholders
Issue 67

April 2022
Letter to Shareholders
Issue 66

March 2022
Letter to Shareholders
Issue 65

February 2022
Letter to Shareholders
Issue 64

January 2022
Letter to Shareholders
Issue 63

2021

December 2021
Letter to Shareholders
Issue 62: Map of Themes

November 2021
Letter to Shareholders
Issue 61: What Hurts the Quality of Returns

October 2021
Letter to Shareholders
Issue 60: Lodestar vs Bonds

September 2021
LHL Risk Report
Letter to Shareholders
Issue 59: Production vs Consumption

August 2021
LHL Risk Report
Letter to Shareholders
Issue 58: Not All Return Is Created Equal

July 2021
LHL Risk Report
Letter to Shareholders
Issue 57: Real Estate Data & Online Marketplace

June 2021
LHL Risk Report
Letter to Shareholders
Issue 56: Sharper & Clearer

May 2021
LHL Risk Report
Letter to Shareholders
Issue 55: The Cost of Returns

April 2021
LHL Risk Report
Letter to Shareholders
Issue 54: The Run And The Turn

March 2021
LHL Risk Report
Letter to Shareholders
Issue 53: Global Basic Materials

February 2021
LHL Risk Report
Letter to Shareholders
Issue 52: Premium Shopping Malls

January 2021
LHL Risk Report
Letter to Shareholders
Issue 51: 2021 Starts With Crypto

2020

December 2020
LHL Risk Report
Letter to Shareholders
Issue 50: The Clarity of Asymmetry

November 2020
LHL Risk Report
Letter to Shareholders
Issue 49: Workplace Infrastructure, Safety & Control

October 2020
LHL Risk Report
Letter to Shareholders
Issue 48: Curation & Private Labels

September 2020
LHL Risk Report
Letter to Shareholders
Issue 47: Fintech With Ultra-High Precision

August 2020
LHL Risk Report
Letter to Shareholders
Issue 46: Drawdown & Recovery 3.0

July 2020
LHL Risk Report
Letter to Shareholders
Issue 45: Doors & A Bridge Between Two Worlds

June 2020
LHL Risk Report
Letter to Shareholders
Issue 44: Spices, Surgery & Simulation

May 2020
LHL Risk Report
Letter to Shareholders
Issue 43: 5G, Enzymes & Something Sweet

April 2020
LHL Risk Report
Letter to Shareholders
Issue 42: Food, Hygiene, Software & Gold

March 2020
LHL Risk Report
Letter to Shareholders
Issue 41: Blueprint 2030

Letter to Shareholders - Special Edition II
Issue 39: On the way down, On the way up

Letter to Shareholders - Special Edition I
Issue 38: Volatility, Timing & Macro

February 2020
LHL Risk Report
Letter to Shareholders
Issue 40: Lodestar's 20th investment; Japan Long-Short Equity

January 2020
LHL Risk Report
Letter to Shareholders
Issue 37: Lodestar's 19th investment; Enterprise & Personal Computing

2019

December 2019
LHL Risk Report
Letter to Shareholders
Issue 36: Lodestar's new investment; India Mid-Small Cap

November 2019
LHL Risk Report
Letter to Shareholders
Issue 35: Lodestar's new investment; Construction & Mining equipment

October 2019
LHL Risk Report
Letter to Shareholders
Issue 34: Joining the team

September 2019
LHL Risk Report
Letter to Shareholders
Issue 33: What is price risk

August 2019
LHL Risk Report
Letter to Shareholders
Issue 32: What's hot & what's not

July 2019
LHL Risk Report
Letter to Shareholders
Issue 31: LHL makes 18th investment; Electrical & Digital Infrastructure

June 2019
LHL Risk Report
Letter to Shareholders
Issue 30: How asymmetry works

May 2019
LHL Risk Report
Letter to Shareholders
Issue 29: LHL makes new investment; Asia Arbitrage Fund

April 2019
LHL Risk Report
Letter to Shareholders
Issue 28: LHL recovers drawdown, hits new high 2.0

March 2019
LHL Risk Report
Letter to Shareholders
Issue 27: LHL's four horses

February 2019
LHL Risk Report
Letter to Shareholders
Issue 26: The wind at LHL's back

January 2019
LHL Risk Report
Letter to Shareholders
Issue 25: For LHL to be a one-stop home for investor's capital

2018

December 2018
LHL Risk Report
Letter to Shareholders
Issue 24: LHL makes its 17th investment; Australia long/short

November 2018
LHL Risk Report
Letter to Shareholders
Issue 23: LHL makes new investment; Technology innovation

October 2018
LHL Risk Report
Letter to Shareholders
Issue 22: On the topic of 'expected returns' at LHL

September 2018
LHL Risk Report
Letter to Shareholders
Issue 21: On the topic of 'correlation' at LHL

August 2018
LHL Risk Report
Letter to Shareholders
Issue 20: LHL recovers drawdown, hits new high

July 2018
LHL Risk Report
Letter to Shareholders
Issue 19: LHL's global profile, with 15-20 investments

June 2018
LHL Risk Report
Letter to Shareholders
Issue 18: First direct investment in Europe; Public & Private Holding Company

May 2018
LHL Risk Report
Letter to Shareholders
Issue 17: Japan's sector rotation, China's industrial automation

April 2018
LHL Risk Report
Letter to Shareholders
Issue 16: Precision medicine, Insurance in emerging markets 

March 2018
LHL Risk Report
Letter to Shareholders
Issue 15: Emerging markets and Vertical market software

February 2018
LHL Risk Report
Letter to Shareholders
Issue 14: Largest logistics solution, Bengaluru airport 

January 2018
LHL Risk Report
Letter to Shareholders
Issue 13: LHL makes 11th investment; Asian Holding Company

2017

December 2017
LHL Risk Report
Letter to Shareholders
Issue 12: Building up LHL's investment in Technology

November 2017
LHL Risk Report
Letter to Shareholders
Issue 11: Tax cuts in the US, Equity market potential in India

October 2017
LHL Risk Report
Letter to Shareholders
Issue 10: Bioscience, Energy & Transport technology

September 2017
LHL Risk Report
Letter to Shareholders
Issue 9: LHL is close to steady state

August 2017
Letter to Shareholders
Issue 8: LHL makes its 10th investment; Technology 

July 2017
Letter to Shareholders
Issue 7: Selling mature assets, Falling share of OPEC's oil

June 2017
Letter to Shareholders
Issue 6: LHL makes its 9th investment; Events-trading

May 2017
Letter to Shareholders
Issue 5: Building up LHL's investment in the US

April 2017
Letter to Shareholders
Issue 4: On the topic of 'rebalancing' at LHL

March 2017
Letter to Shareholders
Issue 3: Building up LHL's investment in Real assets

February 2017
Letter to Shareholders
Issue 2: Frothy properties in Canada, New housing starts in the US

January 2017
Letter to Shareholders
Issue 1: What makes LHL different