Core Beliefs

  • Due to behavioral and cognitive biases, prices of financial assets tend to over-react during moments of macroeconomic or political stress

  • These moments present some of the least competitive hunting grounds to invest in high quality, industry-leading franchises, at extremely attractive valuations

  • A well-structured and disciplined investment process that seeks to capitalize on these opportunities has the potential to generate outsized returns that are largely uncorrelated to broader markets

  • Emotionally detached outsiders have a psychological and structural advantage over local or dedicated investors that tend to retrench in moments of crisis and fail to fully participate in the recoveries that follow