Reading Time: approximately 10 minutes. Click here to read this letter in PDF Format. Dear GreenWood Investor: Our performance thus far in 2023 has been decent. We have performed in line or above global indices as of July in all…
Reading Time: 21 Minutes. Click here to read this letter as a PDF. The Use of Adversity "Always seek out the seed of triumph in every adversity.” -Og Mandino This year has been humbling for us. Our second quarter performance was…
Estimated Reading Time: 25 minutes. Click here to read this article as a PDF. The Acceleration Of Time “In winter, I plot and plan. In spring, I move.” -Henry Rollins We’re all living through the most unusual times. This letter…
Estimated Reading Time: 6 minutes Click here to read this letter in PDF format. Speed Read: 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…
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…
We took a bit longer than normal writing our quarterly letter for the first quarter of 2020. Click here to read Confessions. Speed Read: Reporting our performance feels like entering my first confession, and I outline the important psychological effects…
We have posted our brief quarterly letter, which you can read by clicking here. Speed Read: Our underperformance this year reflects irrational prices that have become even less rational, particularly with the view we have on the board of our…
“Opportunity is missed by most people because it is dressed in overalls and looks like work.” Thomas Edison In studying the world’s most prodigious value creators, or Builders as we call them, we have found at least a dozen behavioral…
We have posted our delayed and brief quarterly letter, which you can read by clicking here. Speed Read: We continue to evolve our process and have changed our tag lines to better reflect the considerable evolution we’ve made over the…
Our friends at ValueDACH asked us to flesh out our definition of conscious capitalism and why we use these criteria to assess the quality of a company. While, of course, we rate management teams, industry lifecycles, and competitive advantages, among…