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: 10 minutes. Click here to read this article as a PDF. "Bad companies are destroyed by crisis, good companies survive them, great companies are improved by them.” -Andy Grove This letter will be briefer than usual, as…
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: 18 minutes. Click here to read this in PDF Format. When Defense Misfires “Offense wins games. Defense wins championships.” This past quarter, much of my curiosity has been focused on the differences between offense and defense. Given…
Estimated Reading Time: 4 minutes Click here for a PDF version of the quarterly letter. Dear GreenWood Investor: “Some men see things as they are and ask, ‘Why?’ I dream things that never were and ask, ‘Why not?’” RFK We…
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…
Estimated Reading Time: 14 minutes Click here to read this letter in PDF format. Speed Read: We remain encouraged, but not satisfied, by the out-performance in the quarter which restored the long term, through-the-cycle, track record back to our minimum…
This article is the 3rd in a 6-part series examining how the drivers of value creation are the same as sustainability drivers. We will outline these drivers in these 6 posts and show how recent ESG efforts to define business…
This quarter's 4-page letter discusses why we’re encouraged about the progress we’ve made on three fronts: 1) in performance (+15.4% in the fund, or 7.2% alpha), 2) further fundamental transformation at CTT which will be more evident in the quarters ahead…
Our first quarter letter’s discussion on paying more attention to the whims and fancies of Mr. Market’s focus spurred a few friends to recommend some great psychological summer reads. To quickly summarize the quarterly letter, System 1 thinking, the fast…