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…
Click here to read our brief 4.25-pager letter to investors reviewing the past year as well as the year ahead. Speed Read: We had a frustrating fourth quarter and ended the year flat. We outline major contributors to alpha; In order…
By Steven Wood on Friday, January 11, 2019 One of the best parts of having an investment process that appeals mostly to sophisticated investors is the introductory meetings are nearly always very enlightening for us. While we have long said we…
Our friend Bill Carey at Cortland Associates has frequently talked about benefitting from trends by investing in parallel, complimentary or adjacent businesses to the actual trend-maker. Many times, these parallel investments can be more profitable than the actual company driving…