Quarterly Confession.pdf

2020.05.10-Confessions-v3.pdf
Preview of Quarterly Confession
🔗 Source: gwinvestors.com
📊 Size: 895 KB
📄 Pages: 9 pages
⬇️ Downloads: 199

Summary

The GreenWood investor letter reports a record low performance, which the manager attributes to his disregard for System 1 thinking, the emotional and reactive part of the brain. He notes that successful value creators have a strong System 1, which allows them to understand consumer behavior and create products that resonate with them. The manager confesses to ignoring Mr. Market's views and announces changes to the portfolio construction framework, including evolving the ranking system to balance value, quality, and behavioral criteria, and abandoning the 3, 6, 12-month roadmap in favor of assessing Mr. Market's concerns and making probability-adjusted estimates.

Description

The GreenWood investor letter reports a record low performance, which the manager attributes to his disregard for System 1 thinking, the emotional and reactive...

Technical Information

  • File Format: PDF
  • File Size: 895 KB
  • Pages: 9
  • Language: EN
  • Total Downloads: 199
  • Last Updated: 3 days ago

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