Some links

My friends from Langfrist have issued their half year reports:
TGV Partners 6M 2019
TGV Truffle 6M 2019
TGV Rubicon 6M 2019 

Interesting analysis why Value Investing seems to underperform in times of technological revolutions

A great deep dive into the current state of streaming video

Good summer reading list from A16Z

SaaS mania: Recent IPO Zoom now trades at ~62 times revenue

Machines these days can play online poker really well

Ray Dalio on Paradigm shifts


  • Memyselfandi007

    The rather mediocre performance of “your TGV friends” explains many things.

    Your best quality is that you openly acknowledge when did you do wrong (and also right!).

    Your friends, though, are less honest and go the typical route of the average fund manager that underperform. And one of them openly acknowledges his arrogance!

    After they go out of business, they could apply their skills as Product Development Managers in Boirot !

    • GNP-GlobalNosePicking

      Do you mean Boiron ?

    • using my own nick name is not really helpful. But anyway, 6 month says nothing about the quality of a fund / fund manager. The TGV Partner fund which I own has done very well over the last 4 years, inlcuding the last 6 months. And I am 100% sure that they will not go out of business anytime soon.

      • GNP-GlobalNosePicking

        I would rather say TGV Partner fund did very well over the last 4 years, EXcluding the last 6 months…

        That said, short underperformance periods are ok if long-term there is overperformance….

        *I liked the Boiron joke… x-D

      • Felix Frenzel

        Using someone else’s nickname… That’s not fair !!

  • Speaking about non-tech companies trading at ludicrous multiples, even chicken wings restaurants such as Wingstop trade on 15x revenue!

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