Wiedhower Capital – JD.com Long-Term Thesis

JD.com is the third largest e-commerce website in China What makes JD.com unique is that they own their entire end-to-end logistics network. They buy products from manufacturers, store it in their own warehouses, sell direct to consumers, and even manage the last-mile delivery to the customer’s door Largest competitors, Tmall and Taobao, are both marketplaces […]

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David Einhorn’s 2Q18 Letter: Brighthouse Financial, GM, and Short Tesla & Athenahealth

Another difficult quarter and lost an additional 5.4%, bringing year-to-date loss to 18.3% Environment for value investing has been tough. AllianceBernstein recently reported that value investing strategies are performing in the bottom one percentile since 1990 In the past 18 months, Russell 1000 Pure Growth index has outperformed the Russell 1000 Pure Value index by […]

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