Daniel Gladiš
Vltava Fund
Global, concentrated portfolio of quality businesses bought at sensible prices.
Best for Long-term investors who care more about process than about stock tips.
Why I read Daniel
Daniel writes essays more than portfolio reports: value traps, the Kelly criterion, skill versus chance. Few letters explain the craft this clearly, and the archive goes back to 2004.
Links go to the firm's own site unless marked "via", which means a public copy of a letter the firm no longer hosts. Official letters page ↗