The Road Not Taken
by Robert Frost, 1916

Two roads diverged in a yellow wood,
And sorry I could not travel both
And be one traveler, long I stood
And looked down one as far as I could
To where it bent in the undergrowth;

Then took the other, as just as fair,
And having perhaps the better claim,
Because it was grassy and wanted wear;
Though as for that the passing there
Had worn them really about the same,

And both that morning equally lay
In leaves no step had trodden black.
Oh, I kept the first for another day!
Yet knowing how way leads on to way,
I doubted if I should ever come back.

I shall be telling this with a sigh
Somewhere ages and ages hence:
Two roads diverged in a wood, and I—
I took the one less traveled by,
And that has made all the difference.

Eredità Holding Company, LP

In our view, there are two primary and equally favorable paths to intelligent investing. Each requires discipline and a certain degree of understanding about the general landscape. The first path is dollar-cost averaging in low-fee index funds. The advantage here is the simplicity and reliability of the process. All that is required of the investor is the persistent contribution of capital and the optimistic perspective that, over time, the US economy will continue to grow as it always has.

The second road is that of value investing, which requires the identification of underpriced assets with the expectation that, over time, the market will revalue them at more reasonable rates. This approach requires the knowledge to identify undervalued businesses, the energy to seek-out such opportunities, and the confidence to store your acorns in trees that others have overlooked. While at first glimpse this road might seem more like a mountain pass than a grassy knoll, it is actually a more risk-averse approach to investing. Purchasing valuable assets at a comparatively low price inherently mitigates against the relative impacts of a market downturn. Contrary to the popular wealth management slogans, highly profitable investments need not, and indeed should not, also be high risk. Eredità Holding Company, LP offers otherwise passive investors with a cost-effective and trustworthy investment vehicle for this road less traveled.

Eredità Holding Company, LP is accepting new partnership inquiries for 2020. Email:

Partnership fees: One quarter of profit above a six-percent threshold. Investment minimums are waived for the first year of this project. One year minimum commitment.