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First Half 2024 Letter

Estimated Reading Time: 12 minutes. Click here to read a PDF version of this letter. Dear GreenWood Investor: Ā  Ā Ā  Our accounts and funds generated satisfactory performance in the first half, modestly outperforming our benchmark. Our separate accounts, which have…

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Year End 2023 Letter

Reading Time: approximately 12 minutes. Click here to read this letter in PDF Format. Dear GreenWood Investor: Fundamental Momentum ā€œOpportunities multiply as they are seized.ā€ —Sun Tzu We are pleased to report a year of good progress for our investors,…

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First Quarter 2021 Letter

Estimated Reading Time: 6 minutes Click here to read this letter in PDF format. Speed Read:Ā  Our Global Micro Fund delivered returns of 23.3%, while the euro-denominated Luxembourg fund returned 24.6%. Our Global Micro separate accounts returned 18.5% while our…

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Second Quarter 2020 Letter

Click here to read the second quarter 2020 letter to investors. This one is highly analytical in picking apart our performance, exposures and factor drivers. In it, I explain why we’ve chosen companies off the beaten path, yet remain exposed…

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First Quarter 2020 Letter: Confessions

We took a bit longer than normal writing our quarterly letter for the first quarter of 2020. Click here to read Confessions. Speed Read:Ā  Reporting our performance feels like entering my first confession, and I outline the important psychological effects…

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