Saga Partners’ H2 2023 Investor Letter: Insights on Carvana, Redfin, and Roku

Third-Party Content. Provided for informational purposes only. Not investment advice or a recommendation to buy or sell any security. See disclosure here.

Saga Partners’ H2 2023 Investor Letter: Insights on Carvana, Redfin, and Roku

In their latest semi-annual investor letter, Saga Partners takes a deep dive into their top three holdings: Carvana ($CVNA), Redfin ($RDFN), and Roku ($ROKU). Portfolio manager Joe Frankenfield provides a detailed analysis of Carvana’s integrated business model and unit economics, making a compelling case for the company’s long-term potential despite the doubts surrounding it in 2022. The letter also includes updates on the progress of Redfin and Roku, two other key holdings in the fund’s concentrated portfolio.

Frankenfield openly reflects on past mistakes and the challenges of aligning short-term portfolio manager incentives with the long-term interests of investors. He emphasizes the importance of taking a long-term, owner’s mindset when evaluating companies and navigating short-term volatility. This candid and insightful approach makes the letter a must-read for investors seeking to understand how a concentrated, long-term focused portfolio manager analyzes investments and makes decisions.

Click here to access the full H2 2023 Saga Partners investor letter and gain valuable insights into their investment philosophy, decision-making process, and outlook for their top holdings.

Disclaimer: The information provided in this blog post is for informational and educational purposes only and does not constitute financial, investment, or other professional advice. The content is based on a third-party investor letter and does not represent an endorsement, recommendation, or solicitation to buy or sell any particular security or investment product mentioned.

Investing involves risk, including the potential loss of principal. Past performance is not indicative of future results. Investors should carefully consider their investment objectives, risk tolerance, and financial situation before making any investment decisions. It is strongly recommended to conduct thorough research and due diligence, and to consult with a qualified financial advisor or professional before making any investment decisions based on the information provided in this blog post or the referenced investor letter. The author of this blog post and the owners of this website are not responsible for any investment decisions made by readers and disclaim any liability for any actions taken based on the content presented herein.

Disclaimer: Third party content is provided for informational purposes only and should not be construed as an offer to sell or a solicitation of an offer to buy or sell any security. Third party content is not intended to serve as a recommendation to buy or sell any security and is not intended to serve as investment advice. Third party content creators are not affiliated with BBAE Holdings LLC, (“BBAE”) Redbridge Securities LLC (“Redbridge Securities”) or BBAE Advisors LLC (“BBAE Advisors”). All investments involve risk, including the possibility of total loss of principal. For additional important information, please click here.

Related Posts
BBAE Blueprint

Join BBAE: Unlock Up to $400 Bonus!

Tailored insights, powerful tools. Automatic bonus at signup.
Get Started with BBAE Now!