Reading Time: approximately 10 minutes. Click here to read this letter in PDF Format. Dear GreenWood Investor: Our performance thus far in 2023 has been decent. We have performed in line or above global indices as of July in all…
We're delighted to provide a research update on one of our favorite positions, Rolls-Royce. Click here to read "The -£17B Engine" After you read the note, please take a stab at predicting your own forecast of what the company's fundamentals…
Chris penned our third quarter letter on his first year anniversary with the GreenWood team. Speed Read: Exor exemplifies why "dead money," is a truism that is never true when skin in the game is involved, as Builders continuously compound…
By Steven Wood, Monday, March 25, 2019 Demystifying Fuel Burn This article was written on a transatlantic Air France flight on a Boeing 777-300 aircraft. It’s one of the least efficient flights across the pond, and is a dying breed -…
Speed Read: Updates to Leonardo, Rolls-Royce and Flybe Rolls is poised to dominate half the jet engine market Leonardo’s divisions are absolutely crushing it, new CEO looming Flybe’s growth profile moderation will enable >75% of its routes that are breakeven…
Please click here to read our brief quarterly letter reviewing our opportunity set and a couple new positions. Additionally, our presentation on EXOR was selected by the Ira Sohn foundation as a finalist in the stock-picking contest. I’m convinced the…
Speed Read: UK economy primed for recession regardless of Brexit vote Property prices peaked in Q1 and have already started to decline Consumer confidence already weakening - this will accelerate post Brexit Unemployment 30 bps away from all-time lows, further…
Subsequent to Rolls Royce's investor day, and the incremental "headwinds," flagged by Warren East, we've updated our research on the company. We believe East has been aggressively bearish in his "headwinds," which are not guidance, and ignore several hundred million…
We've boiled down all the highlights from many months of research on Rolls Royce into a 7-minute video. Rolls is going through the perfect storm right now for multiple reasons, but even perfect storms don't last very long. When the storm…
In the past month, we have built a new core position in Rolls Royce (RR/ LN). We have been uncharacteristically quiet as it relates to our latest core large-cap position, because we’ve been trying to influence the focus of the new…