Fundamentals
Overview
Our fundamentals platform is designed to identify companies whose intrinsic value meaningfully diverges from their market price. We take decisive high-conviction positions, both long and short, to capture that differential.
This strategy is grounded in deep, bottom-up research that evaluates the true economic worth of a business. We focus on durable cash flow, balance sheet strength, and capital efficiency to build a portfolio of our best ideas.
Directional Investing
We seek opportunities where market perception fails to reflect a company’s fundamental reality. Whether identifying structurally undervalued businesses or spotting overhyped names vulnerable to decline, our positions are sized and structured for asymmetric outcomes.
Execution
We express our fundamental views through a range of instruments:
-
Equities: Direct ownership or shorting of common stock to capture price moves aligned with our valuation thesis.
-
Corporate Bonds: Long or short exposure to credit instruments when a company’s creditworthiness is materially mispriced.
-
Derivatives: Options and other structured products to enhance convexity, hedge risk, or target specific catalysts.
Research Process
Our process begins with rigorous financial modeling and qualitative analysis, drawing on company filings, industry data, and management engagement. We then integrate macro and sector-level inputs to ensure each investment thesis is robust and context-aware.
Risk Management
Every position is monitored continuously against our core thesis. We manage exposure actively, scaling up when conviction deepens and exiting when the opportunity has played out or the facts have changed. Discipline is paramount.
Conviction
In Action
Markets often misprice the true value of a business. We turn those inefficiencies into consistent, risk-adjusted returns. Our goal is to act with the clarity and patience required to see value recognized.