Below is my letter for 2020 Q2, in which I commented on individual holdings of PDD, YY, AVLR & CIH. I also shared my process of evaluating opportunity cost of trading actions, and how it improves learning from own past successes, misses & biases.
3 thoughts on “Investor Letter – 2020 Q2”
[…] wanted to point out that Tao of Value posted their 2Q20 letter mentioning CIH. Quite similar thought process to mine in Jan 2020 but they seem to have been ok with […]
[…] Anonymous Tao Value reported 36.45% returns in the second quarter. This brings the partnership’s YTD total to 18.76%. Since inception, Tao Value’s returned an annual 17.11% return, far outpacing MSCI ACWI index. You can read the investor letter here. […]
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