GreenWood’s fascination and respect for the Agnelli family, and the respective companies under its leadership, is well documented. We are Exor shareholders, which in turn, means we own an indirect stake in the legendary football club, Juventus (JUVE). To the…
“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…
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…
By Steven Wood, Wednesday, November 14, 2018 A few weeks ago I had the pleasure of offering a preview to a white paper we’re working on with my friend Ehren Stanhope at factorinvestor.com. A portion of that presentation was filmed…
Our third quarter letter discusses our performance, our opportunity set, and some important changes that will simplify our lives. Click here to read our 3-page third quarter letter. Speed Read: The quarter was not satisfactory in an otherwise decent year.…
Our second quarter letter explores the primary driver of our recent performance: large gaps between trading consensus and reality. We have continued to refine this ranking framework, and we explain further in our short 3.5-page letter. Click here to read…
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…
A Venture Capitalist A Private Equity A Family A Founder A Builder’s Approach to Public Markets Our first quarter letter for 2018 explores how our approach to investing allows us to find assets that are systematically shunned by our peers,…
We get by with a little help from our friends. The back-testing for this article was done by our dear friend, Ehren Stanhope who writes a great blog, factorinvestor.com. This is the first of what we hope will be many collaborations…
Click here to read our fourth quarter letter which, at this inflection point in our growth, reviews where we've been and where we're going. Speed Read: We had a decent year (+27.0%), the performance of which was broad-based. We outline…