RV Capital 1H20 Letter: Business Owner TGV vs. the DAX

Jacob Wolinsky

Published onJuly 20, 2020

Updated on July 20, 2020

RV Capital Co-Investor Letter for the first half ended June 2020, titled, "Business Owner TGV vs. the DAX."

Table of Contents

Dear Co-Investor,

The NAV of Business Owner was €777.13 as of 30 June 2020. The NAV increased 4.5% since the start of the year and 683.2% since inception on 30 September 2008. The DAX was down 7.1% and up 111.1% respectively. The percentage changes differ from the changes in NAV due to disbursements from the fund related to taxes.

About the First Half

As you can see from the modest gain in the unit price since the start of the year, it was an uneventful six months.

I jest.

The last six months were the most astonishing I have...

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Jacob Wolinsky

Jacob Wolinsky is the ex-Founder of Valuewalk.com (founded 2011, sold 2023). He is founder of HedgeFundAlpha (formerly ValueWalk Premium), a hedge fund focused intelligence service for institutional investors. Prior to founding Valuewalk, Jacob worked as an equity analyst covering small caps, a micro-cap analyst, doing member development a large hedge fund community and freelance financial writing. Jacob lives with his wife and five kids in Passaic NJ. - Email: jacob(at)hedgefundalpha.com. For confidential inquires email me for my Signal id. Other methods of secure communication are also available. FD: I almost exclusively avoid the purchase of equities to avoid conflict of interest and any insider information. I only purchase broad-based ETFs and mutual funds. I will disclsoe if I have a stake in any company, but in general avoid

RV Capital 1H20 Letter: Business Owner TGV vs. the DAX

About the First Half

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