Investor Letter – 2020 Q4

01/20/2021 taovalue Investor Letter 1579.HK, Bitcoin, GBTC, Investor Letter, Palantir, PLTR, Retail Flow, Yihai

Below is my letter for 2020 Q4, in which I commented on new position of Yihai (1579.HK), PLTR & GBTC. I also shared my analysis & thoughts on the “Retailization” of the market.

pdf below:

Investor Letter – 2020 Q3

10/26/2020 taovalue Investor Letter, Uncategorized Agora, API, Beike, BEKE, Investment Process, Investor Letter, Mindful Compounder, Slack, WORK

Below is my letter for 2020 Q3, in which I commented on new position of BEKE, WORK, & API. I also shared the case studies of why focusing on “mindful compounders” is important.

pdf below:

Investor Letter – 2020 Q2

07/24/202008/04/2020 taovalue Investor Letter AVLR, CIH, Investment Process, Investor Letter, PDD, YY

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.

pdf below:

Investor Letter – 2020 Q1

05/04/2020 taovalue Investor Letter BILI, Bilibili, Investor Letter, Rebalance

Below is my letter for 20Q1, in which I commented on 1268.HK, GILD, CACC, NXRT, BILI, and shared a research on how momentum based “rebalancing” did during the GFC.

Download pdf: TaoValue_2020_Q1_final