GreenWood Investors 2Q 2017 Investor Letter

GreenWood Investors LLC just published its second quarter 2017 investor letter

Not a recommendation to buy or sell securities. Not a recommendation or solicitation for any fund or partnership. Please read our Disclaimer!

You can find the full letter here:

GreenWood Investors 2Q 2017 Investor Letter

The letter discusses the investment in TripAdvisor (TRIP), among others:

 All of TRIP’s competitors are focused on the supply-side of the business. While both sides are important for a functioning market, only one company can adequately capture the demand. We believe influencing demand is more powerful than controlling supply, yet market valuations would suggest the opposite, with TRIP trading at the cheapest valuation in the industry. Recent results have shown that not only is the TRIP ecosystem growing quite rapidly, but engagement is accelerating. 

 

The GreenWood model portfolio continues to include a lot of European stocks and special situation investments.