2nd Quarter 2019 Letter to Investors

It’s been a great year for the markets so far and an excellent quarter for our portfolios as well. We never take our eyes off the risk factors, though. In this letter we share lessons learned from some of the most important decisions investors have to make – saying “no” to an opportunity. We review the lessons from Bad Blood by John Carreyrou and discuss the allure of cryptocurrency and cannabis. Read 2Q Letter