Investor Letters
Zeke Ashton's Centaur Total Return Fund 2015 Annual Letter: Bargain Hunting in High Yield Bonds
Wintergreen Fund 2015 Annual Report: CTO Story Isn't Over
Arlington Value Capital December 2014 Presentation – Avoid The Deadly Sins
Crescat Capital 1Q16 Investor Letter – A Twin Crisis Brewing In China
Arlington Value Capital 2015 Annual Letter
Bronte Capital Amalthea Fund Letter: Valeant is not a normal short; Walking dead oil companies
Clipper Fund 2015 Annual Shareholder Letter
Anglo Irish: The Builders' Bank – Marathon Asset Management
Fairfax Financial Holdings 2015 Annual Letter: The speculation in the high tech world ended in early 2016
Sandon Capital Activist Fund February 2016 Commentary
GMO 4Q15 Performance Update
Desai Capital Management – The Most Valuable Thing: Value vs. Value Trap
Ariel Investments February 2016 Commentary
SPX Capital January 2016 Letter: China's hard landing; lower oil prices
Dane Capital Management Fund 2015 Annual Letter To Partners
Brevan Howard January 2016 Market Commentary "There’s Little Margin For Error "
RIT Capital / Rothschild "The litany of problems which confronts investors is daunting"
Sardar Biglari's Biglari Holdings Inc 2015 Annual Letter: We Are "unlike most public corporations in structure, scope, and style"
