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The Price of Trust

Estimated Reading Time: 10 minutes Beyond Guidance “Sunlight is said to be the best of disinfectants.” — Louis Brandeis In our white paper on owner operators, one of the most pronounced divergences between owner managed firms and their agent-managed peers…

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2025 Letter to Investors

Estimated Reading Time: 15 minutes. Click here to read this in PDF Format. Dear GreenWood Investor: A Strong Year  “Most important, though, is to keep working; I knew that I essentially never wanted not to work. To me, working is…

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Year End 2024 Letter

Estimated Reading Time: 15 minutes. Click here to read a PDF version of this letter. Dear GreenWood Investor: 2024 Review: Conservative, Yet Performing “When everyone else is losing their heads, it is important to keep yours.” Marie Antoinette We are…

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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:      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 “Opportunities multiply as they are seized.” —Sun Tzu We are pleased to report a year of good progress for our investors,…

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Fourth Quarter 2022 Letter

Reading Time: 7 minutes. Click here to read the letter in PDF format. Dear GreenWood Investor:        Please pardon the delayed delivery of this fourth quarter letter. As telegraphed in the third quarter letter from December, we had…

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