03 — LETTERS
The annual letter is the only thing the office publishes. It is written to the family, and to the small circle of partners who have asked to read along.
MMXXVI
12 pp.
We are stewards before we are investors. Our work begins with reading carefully, declining often, and waiting for the rare opportunity that deserves a generation of attention.
MMXXV
9 pp.
Of the two-hundred-and-eleven proposals we received this year, we accepted three. The other two-hundred-and-eight will, in time, be the reason the three were possible.
MMXXIV
11 pp.
The capital is not ours alone. The next letter Jordan or Mitchell writes — or that David's grandchildren write — is the real measure of this office.
MMXXIII
8 pp.
Founding a family office is mostly subtraction. We have spent these years deciding what we will not do, so the remainder can be done with care.