Some links

Great post from A16Z on “Hidden network” business models

Interesting analysis on the application and limits of Benford’s law in order to detect accounting fraud (example Steinhoff)

Q2 report from TGV Intrinsic, a new addition to the Langfrist family

Nice writup on the Juventus Turin turn-around by Greenwood

“Let my people go surfing” (Patagonia story) sounds like a must read book

“Activist” hedge funds are under increasing pressure themselves these days

The GlobalStockPicking blog has discovered an interesting Polish SaaS company called LiveChat



  • When you highlight the new fund TGV Intrinsic, let me also highlight that such fund charges 5% in / out fees (subscription / redemption) , which together with the -6.1% underperformance would leave the investors in TGV Intrinsic with a damage of ca. -15%. I would not touch this fund even if I had a 10m pole !!

    • The 5% fee is only for the share class with Daily liqidity. The other shareclass with quarterly liquidity doesn’t have such fees. These guys are looking for long term investors Who share their long term approach and I guess you are not a fit….

      The fee on the daily liquid share class is high on purpose in order to avoid having short term investors in the fund, but for regulatory reasons they have to offer this share class.

      And just to make it clear: I don’t recommend to invest in the fund but to read the reports.

  • GNP-GlobalNosePicking


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