Everybody's bearish
An expert from our 2019 Investor Letter II Click here to read the full letter Pessimism is in vogue. Everyone seems to be positioned...
Everybody's bearish
Market crashes... is this the real deal?
The art of selecting a good investment manager
A question of "k": why discount rates are so important to valuation
Return Expectations & Drawdowns
Letters & Notes
2018 Year-End Letter