Facebook (-15%) and Tupperware Brands (-17%) were the top detractors from our long equity holdings. Facebook (NASDAQ:FB) continues to wrestle with critically important topics such as privacy, trust and authenticity. We acknowledge these are difficult issues, and progress will likely be slow and nuanced. Nevertheless, users have stuck with the platform, and the incredibly valuable advertising platform that Facebook has built remains intact.
From Wallace Weitz (Trades, Portfolio)'s third-quarter 2018 Partners III Fund shareholder letter.
