EXXRF - Greenwood Investors Third Quarter 2019 Letter: Long Pubs Short Tourists
Chris penned our third-quarter letter on his first-year anniversary with the GreenWood team.
Speed Read:
- Exor ([[EXOSF]]) exemplifies why “dead money,” is a truism that is never true when skin in the game is involved, as Builders continuously compound value regardless if the market is paying attention or not. Ideally, like our coinvestment, the fundamental value compounds faster than the stock;
- A personal experience in Jerusalem is a perfect anecdote about how stakeholder win-win outcomes are necessary for any progress to be made, particularly in a 500-year old business;
- Two business models encapsulated by the