Vltava Fund commentary for the first quarter ended March 31, 2022, titled, “War.” Three months ago, when I was writing my previous letter to shareholders, I had absolutely no idea that I would be writing today’s letter in a situation when war is raging near our borders. Yes, in retrospect, we can say that many things pointed to that. Nevertheless, until the last moment, we refused to believe that anyone would commit to something so barbaric as a full-scale military invasion of another country. Not in Europe, in the 21st century, and essentially without any justification and completely arbitrar…