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…
Estimated Reading Time: 6 minutes Click here to read this letter in PDF format. Speed Read: Our Global Micro Fund delivered returns of 23.3%, while the euro-denominated Luxembourg fund returned 24.6%. Our Global Micro separate accounts returned 18.5% while our…
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…
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…
Speed Read: The Italian economy is recovering quickly and leading economic indicators are accelerating Yet, it has been the second-worst performing index in the world so far this year, opening up tremendous opportunities for global investors Finmeccanica has been thrown…
Please click here to read our short quarterly letter reviewing our year, and how we’re thinking about the beginning of 2016 - which has of course been full of fireworks! Summary: Prior to the year, we already trimmed or eliminated some illiquid and…
Our third quarter letter reviews our process and its increasing ability to predict future returns. Every time our portfolio's risk-adjusted return has hit high levels, subsequent performance has been strong. It remains above 20x, and above the previous record-high from…
While we love to shy away from talking macro, the Italian economy has undeniably turned the corner with its foot on the gas. We’re very well positioned for the renaissance. Speed Read: We’re Italian Bulls: early cycle industries are improving…
We are happy to present a research update and also a response to an anonymous author's bearish case for an investment in Finmeccanica. Despite the best efforts of Caesar Augustus, as the author calls himself, to portray an investment case…