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Gilder Gagnon Howe & Co. gives the small investor who possesses long-term patience—and fortitude—an opportunity to create wealth. You’re invited to learn more about what we do.

But, investing with us is not for everyone.

Letters & Documents

2021 Q3 Letter

December 27, 2021

...The idea of a Metaverse originates from Neal Stephenson’s 1992 anarcho-capitalist science fiction novel Snowcrash. The book describes a future where life exists both in the real world and in a rich online world, where humans, connected by virtual reality, live a second life. Most of the book takes place in the real world but virtual reality...Open PDF

2021 Q2 Letter

July 27, 2021

...Until recently, when a family moved into a new house, they chose a telecommunications provider that had the video channels they wanted at the best price, and they accepted the internet package as an afterthought....Open PDF

2021 Q1 Letter

July 27, 2021

...The re-opening seemed to trigger the drop in our portfolios, as the power of the mRNA vaccines turned investors’ attention from stocks that benefited from staying at home to stocks that benefited from the re-opening. At the same time, pandemic-fueled shortages...Open PDF

2020 Q4 Letter

April 26, 2020

...The fourth quarter was as wild as three leading up to it. The Nasdaq was up 16% in Q4 alone and as the table at the end shows, we did even a little better than that....Open PDF

2020 Q3 Letter

December 4, 2020

...With a month left in what has been the most volatile year for the stock market in at least a generation, there remains an extraordinary list of things to worry about. However, as investors, we think we are best served by trying to default to being optimistic, because the alternative is a bet against human ingenuity and invention....Open PDF

2020 Q2 Letter

August 25, 2020

...My job is t​o take risks. If I can find good risks, we tend to do well; if I don't find good risks, we don't do that well; and when I make mistakes, we can really lose a lot of money. Most of our performance during the quarter...Open PDF

2020 Q1 Letter

May 11, 2020

...We’re convinced that while this public health crisis will probably be harder and longer than some thought, global society will get through this, and in this crisis there will be at least one investment opportunity created the size of Alibaba. We might not find it, but we sure are going to try. Open PDF

2019 Year End Letter

February 13, 2020

Electric Cars and Quick Service Restaurants... As the performance tables at the end of this letter show, we did well in the fourth quarter with most of our accounts up double digits... An upstart coffee chain in China… Open PDF

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About GGHC

Our approach to building wealth isn't for everyone.

GGHC gives the small investor who possesses long-term patience—and fortitude—an opportunity to create wealth.

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Alex Derbes Profile

Alex Derbes

Speculator

Gilder Gagnon Howe & Co

My objective is to grow money significantly over many years for clients who are willing to take risk. My approach is aggressive and returns are volatile—I once lost 22% in 36 days—but so far the performance has justified the volatility. Read More

212-424-0254 AlexAndTeam@gghc.com