Tao Value Q1 2019 Letter

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Includes: CACC, GOOG, GOOGL, HUYA, TCEHY, YY
by: Tao Value
Summary

I typically hold 10 to 15 instruments, with each position consisting between 5-10% of the portfolio. My typical holding period is 1 to 3 years, with special situation and distressed ideas on the short side, and great operations ideas on the long side.

For the quarter ended March 31st, 2019, Tao Value recorded a return of +14.03%, compared to +12.45% of MSCI All Country World Index (ACWI). It was the best first quarter for multiple broad market indices since the recovery from the Great Financial Crisis.

Includes detailed analysis of Tao Value’s positions in Credit Acceptance, YY, Alphabet and Huya.

Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.