Curreen Capital Quarterly Letter, October - December 2018

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About: Garrett Motion Inc. (GTX), SCKT, Includes: BLD
by: Fund Letters
Summary

We are a concentrated global small cap value fund, and our investments meet three key criteria: excellent businesses, exceptional management, and undervalued securities.

Our fund invests in 5-15 positions which meet all three criteria, and we hold cash when we cannot identify investments that meet our criteria.

2018 was a painful year. Our fund was down 25.7% in Q4, and down 22.3% for the year. I have complete confidence that Curreen Capital will recover from 2018, and I want this to be a record of how we handled a difficult time.

Includes detailed analysis of Curreen Capital's positions in SCKT, GTX.

Our investments were very attractively priced several months ago, and have only become more attractive as their stock prices have fallen.