Section was from Saga Partners' H2'20 Investor Letter. Discusses the rise of intangibles in the economy and its impact to business/investing

Disruptive innovation, evolution of the digital economy, asset bubbles, new positions in GoodRx, Roku and Teladoc and selling Dropbox.

The theory of market outperformance, the biology of investing, where market inefficiencies have transpired, and a portfolio update.