We deliver superior returns by identifying special situations and sectors through disciplined research We Identify Sectors and securities with dislocated valuations, situations where public market values vary substantially from our assessment of private valuations. We favor concrete metrics over forecasting and hypothetical valuations. We perform Rigorous, bottom-up valuation analysis, focusing on total enterprise value, cash flows, balance sheets, and insider buying & selling.
We manage risk by monitoring fundamental milestone events and using option based hedging. We scour global economies & markets for opportunities and filter them using intensive quantitative and qualitative methods. We screen aggressively to identify the most viable candidates. We scrutinize candidates using proven analytical techniques to form valuation models. We define the underlying causes behind the valuations.
We design optimal vehicles for each capital structure to maximize returns and minimize risk as valuations move from distressed to target levels. We track daily with metrics & milestones including valuation levels, price targets, and qualitative milestones. We trim or increase holdings, revisit targets and anticipate milestones. We uncover the best deep value investment opportunities for a given capital structure utilizing our proven in-house research expertise.
We minimize downside exposure and focus on a manageable subset of the overall market by investing at extremely discounted valuation levels. We find hidden value in events such as restructuring and broader themes unrecognized by many investors. We focus on progress towards defined fundamental milestones rather than technical price movements. We weigh economic factors carefully and anticipate relevant economic changes to our clients’ advantage.