Willow Oak Select Fund 1Q19 Commentary

Willow Oak Select Fund commentary for the first quarter ended March 31, 2019. Q1 hedge fund letters, conference, scoops etc Only when the tide goes out do you discover who’s been swimming naked. – Warren Buffett Dear Partner, For the quarter ended March 31, 2019, the fund was up 5.59%, versus 11.61% for the benchmark index, MSCI ACWI. The above quote is often cited, but infrequently properly implemented. To us, planning in a meaningful way for the inevitable day when the tide goes out means structuring a portfolio with large positions in companies with a high probability to compound at…