Q1 2019 Investor Letter
Each quarter, we provide updates on the market and Titan composite, discuss our Thought of the Quarter, dive into recent trading activity, and more.
Below are a few highlights from our Q1 letter. The complete letter, including recent trading activity and biggest gainers/laggards, is reserved for Titan clients only.
- Broad-based strength across the Titan companies in Q1, with 17/20 companies seeing their stocks gain more than the S&P's +14% rise
- We believe macro risks still exist (e.g., trade war, Brexit), though strong Q4 earnings growth suggests slowing global growth hasn't (yet?) impacted quality/growth co's
- Thought of the Quarter: Linear Thinking in a Nonlinear World (example: Facebook fundamentals vs. privacy concerns)