Third Quarter 2017 Letter to Investors

Dear Investors,

Burr Capital LLC has released its Third Quarter 2017 letter to investors

In addition to a review of the quarter, the letter explores the tension between behavioral science and modern portfolio management's use of volatility as a risk measure, which can lead to suboptimal long-term portfolio decisions.

Please do not hesitate to reach out if you have any questions.

Sincerely,

Rahul Ray
Principal