Tao Value Q1 2018 Investor Letter

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Includes: CACC, CYOU, DELL, DISCA, FSHUF, GOOG, GOOGL, SOHU, TEAM, VMW, VST, YY
by: Fund Letters
Summary

For the quarter ended March 31, 2018, the fund recorded a return of -5.53%, compared to -0.54% of MSCI All Country World Index.

The market finally got the long-overdue volatility this quarter. It was also an eventful quarter for the fund's portfolio, with updates on individual positions.

Negative contributions from a few positions are reviewed as temporary disagreement of Mr. Market, but there are lessons need to be learned on others.

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