Deep Value Strategy
A pure deep value approach to equities as an actively managed strategy for long-term investors seeking a differentiated perspective.
Value-driven, long-term approach: Identify and exploit short-to mid-term market inefficiencies that temporarily depress a company’s share price below its long-term intrinsic value and aim to hold investments for a minimum of 3 years
High Active Share: Consistently differentiated from the benchmark, as active share tends to be 80%-90%+
All Cap Flexibility: Investing in companies of all market capitalizations allows us to go where the opportunities are greatest
Concentrated Positions: Focuses on the most deeply mispriced companies with what we believe have the most opportunistic long-term outlook
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4Q 2021 Letter: Price versus Value
3Q 2021 Letter: The Weighing Machine Should Tilt in Value’s Favor
2Q 2021 Letter: Pro-Value Cycle
