Letters & resources

The vault
library.

Annual shareholder letters, investment thesis essays, and plain-language thinking from Latimel and Luis Rodriguez. Published every year — honest performance data, forward strategy, and the philosophy behind the vault.

1
Shareholder letters published
since founding (2025)
∞
Planned cadence — one letter per year,
every year, indefinitely
@
Follow @prefivault on X for
shorter-form thesis updates
Latest letter
Most recent publication
Archive
All letters

Get the next letter.

Annual letters delivered directly. No noise — one email per year when a new letter is published.

Blog
Essays & thinking
Live from dashboard

Get the next letter.

Annual letters delivered directly. No noise — one email per year when a new letter is published.