Public Equities
Value-driven investing
We first identify fundamentally strong companies with consistent revenue and earnings growth, then look for mispriced and misunderstood businesses at inflection points, using behavioral finance as our analytical edge.
Our Philosophy
Disciplined value investing
Fundamental Strength First
We start by identifying companies with consistent revenue and earnings growth, strong competitive positioning, and durable business models.
Deep Fundamental Research
We conduct thorough analysis of financial statements, competitive positioning, and management quality to understand intrinsic value.
Behavioral Edge
We systematically identify when market prices diverge from fundamental value due to cognitive biases and emotional decision-making.
Margin of Safety
We only invest when the gap between price and value provides substantial downside protection.
Patient Capital
We take a long-term view, allowing our investment theses to play out without being swayed by short-term volatility.
Investment Focus
Where we find opportunity
We concentrate on areas of the market where informational advantages persist and where behavioral biases create the largest gaps between price and value.
Our focus on less efficient market segments allows us to leverage our research capabilities and long-term orientation for sustained competitive advantage.
Our Process
Systematic research
Idea Generation
We source ideas through quantitative screens, industry research, and monitoring of corporate events that may create temporary mispricings.
Fundamental Analysis
Deep dive into financial statements, industry dynamics, competitive moats, and management track record to assess business quality.
Behavioral Assessment
Evaluate whether behavioral biases or institutional constraints are causing the mispricing and assess the catalyst for revaluation.
Valuation & Sizing
Build detailed financial models to estimate intrinsic value and determine appropriate position sizing based on conviction and risk.
Portfolio Construction
Integrate positions into the overall portfolio considering correlation, sector exposure, and liquidity requirements.
Behavioral Edge
Exploiting market psychology
We systematically identify and capitalize on the predictable patterns of irrational behavior that create mispricing in financial markets.
Recency Bias
Markets overweight recent performance, creating opportunities in out-of-favor quality businesses.
Loss Aversion
Investors sell too quickly after losses, pushing prices below intrinsic value.
Herding
Consensus views create crowded trades, while contrarian positions offer better risk/reward.
Overconfidence
Popular growth stories become overvalued as investors underestimate risks.
“Price is what you pay. Value is what you get.”— Warren Buffett
Risk Management
Protecting capital
Risk management is embedded in every aspect of our process. We focus on avoiding permanent capital loss through diversification, position sizing discipline, and our margin of safety requirements.
Learn more about our approach
Interested in learning more about our public equities philosophy? We welcome conversations about our approach and methodology.
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