Euclidean 2Q16 Letter – The Difference Between Price & Value

Euclidean Technologies letter for the second quarter ended June 30, 2016; titled, "The Difference Between Price & Value."

Over the past year, many more people have asked to receive Euclidean’s letters.  This is flattering to us.  We aim to share insights and perform at a level that validates your attention.

In recent letters, we examined value investing’s future prospects and outlined how new developments in deep learning have the potential to augment our investment process.  As investor attention has recently been devoted to making sense of Britain’s vote to exit the EU, we thought it worthwhile to explain—as an introduction to some and as a refresher for others—why we ignore...