The Investment Process

Our Process Infographic
Identify Themes

Identify Themes

Determine areas of chronic underinvestment of capital where pricing and profitability are rapidly improving.

Identify Universe

Identify Universe

Find relevant investments in each sector or asset class.

Hedge Enhance

Hedge & Enhance

Employ hedges to lower volatility and utilize leverage to enhance return.

Process Bottom Up

Bottom Up

Conduct fundamental analyses of investment alternatives within themes.

The Research Process

Identify Shortages

Identify Shortages

  • Supply shortages emerge due to inadequate investment, which leads to higher prices
  • Higher prices in turn lead to higher cash flows and higher returns on investment
  • Identify those companies best positioned to take advantage of shortages

Identify Global Geographic Growth Opportunities

  • Stock market valuations are deemed to be inexpensive
  • A catalyst for growth is present
  • The currency is expected to strengthen relative to the U.S. dollar, enhancing U.S. dollar returns
Global Growth
Global Credit

Identify Unique Global Credit Market Opportunities

  • Changing economic fundamentals may be a positive factor for both income and price appreciation
  • An attractive yield curve exists to react to changing economic fundamentals
  • For international securities, the currency is expected to strengthen relative to the U.S. dollar, enhancing U.S. dollar returns