Skip to content

Third Quarter 2020 Letter

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…

Read more

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…

Read more

Thinking Now & Later

Before it was cool to dump on General Electric and its “we must beat the quarter” Jack Welch-era style management, in a public manner, David Cote did so by proving there was a better way. In his new book, Winning…

Read more

A Purpose Driven Decade

It’s been a year of significant growth for us. A year ago, we merely suggested to managers value creative actions they could implement at their companies. Today, we are effectuating change from inside our largest position. We’ve continued to lower…

Read more

The Wandering TRIP

"Not all those who wander are lost." JRR Tolkien  One of the most frequent monsters in investors’ collection of nightmares is “thesis creep.” This is when the dynamics have changed to the point where you can barely recognize the original…

Read more
Back To Top