Prime 2018 Year End Shareholder Letter

We hope everyone had a good year, both personally and financially. In 2019 we took a year off from writing an annual letter, for our sake and for yours, after writing several

lengthy annual reports over the years. We decided to focus all of our attention on doing the work you count on from us—painstaking research into companies that may be undervalued (or overvalued), and careful stock selection. And it seems to have worked out well; we had one of our best years in 2019.