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…
Reading Time: 21 Minutes. Click here to read this letter as a PDF. The Use of Adversity "Always seek out the seed of triumph in every adversity.” -Og Mandino This year has been humbling for us. Our second quarter performance was…
Estimated Reading Time: 4 minutes Click here for a PDF version of the quarterly letter. Dear GreenWood Investor: “Some men see things as they are and ask, ‘Why?’ I dream things that never were and ask, ‘Why not?’” RFK We…
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…
Estimated Reading Time: 14 minutes Click here to read this letter in PDF format. Speed Read: We remain encouraged, but not satisfied, by the out-performance in the quarter which restored the long term, through-the-cycle, track record back to our minimum…
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…
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…
We took a bit longer than normal writing our quarterly letter for the first quarter of 2020. Click here to read Confessions. Speed Read: Reporting our performance feels like entering my first confession, and I outline the important psychological effects…
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…
We have posted our delayed and brief quarterly letter, which you can read by clicking here. Speed Read: We continue to evolve our process and have changed our tag lines to better reflect the considerable evolution we’ve made over the…