Letter to Investors

  Letter to Investors Nº 5

In this edition we share how we are dealing with the crisis caused by COVID-19, the adjustments to our portfolio resulting from this and our view for the long term.

  Letter to Investors Nº 4

In this edition we share our experience and some reflections on the themes we believe are the most important when investing in Brazilian electric power transmission companies.

  Letter to Investors Nº 3

In this edition we share some reflections on capital allocation in the context of investment in stocks. Next, we talk about the firm and present some visions about the investment environment in 2017 and 2018.

  Letter to Investors Nº 2

In this edition we present our vision on the impact of digital technologies in business. With the objective of extracting useful lessons for the investment activity, we seek to merge examples of everyday life with some parallels with the past.

  Letter to Investors Nº 1

We introduce our company through two parallels with history. First, we explain our name and a little of what inspires us through some lessons learned from the battle of Normandy. After, we invite the reader to know the life of Benjamin Graham, in particular his effective practice as an investor.