Deep Value Strategies
Two actively managed strategies 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 Deep Value Strategy: Portfolio includes only the most deeply mispriced subset of the Deep Value Strategy
1Q 2019 Letter: A Private Equity Approach to Public Markets
4Q 2018 Letter: It’s Time to Be Greedy When Everyone Is Fearful