Greenhaven Road Capital 3Q18: Box, Inc., FCAU, ETSY, SHSP, TRIP, YELP, EVI

Had positive net returns of 3% for the quarter, bringing YTD returns in excess of 12% Box, Inc (BOX) Online file storage is a “bad” business as there is little value add and it is effectively a commodity Founders of Box began to focus on the enterprise customers and particularly companies in regulated industries Large […]

Advertisements
Continue Reading

Joel Greenblatt’s Market Observations

US Equity Markets Remain Very Expensive (based on our 28-year valuation history) S&P 500 and Russell 1000 are both in the 15th percentile towards expensive When markets have been at these levels in the past, one-year forward returns have averaged 2-4% and two-year forward returns have averaged 7-9%, which is well below normal returns historically […]

Continue Reading

Market Cheat Sheet Oct. 18, 2018

Track the Markets: Winners and Losers; Compare the performance of selected global stock indexes, bond ETFs, currencies and commodities (YTD and Current Quarter) – WSJ “Current stretch of European underperformance is unprecedented both in length and magnitude; earnings recovery is coming back very strongly and Europe’s operational leverage is vastly underappreciated; discount to the US […]

Continue Reading