SPREAD YOUR WINGS
“This time, like all times, is a very good one, if we but know what to do with it.”
Ralph Waldo Emerson
A NOTE FROM THE FOUNDERS
Your Success Is Our Success.
Our vision is to create a client-centric investment firm devoted to quantifying the impact of human behavior on equity and credit prices. Our clients include entrepreneurs and senior leaders - the types of people we diligence and who typically share our life and career experiences.
We are with you every step of the way. We invest in our own strategies, profiting from the gains and enduring the losses alongside you, so our interests are aligned.
We are deeply curious and passionate about the real-world impact on stakeholders and believe that fulfilling our mission will help our partners protect and grow their long-term wealth.
Sincerely,
Karim Mawji, CFA
Founder and Chief Investment Officer
Ashira Mawji
Founder and Lead Quantitative Developer
HOW WE ARE
Different.
Our operating and investment principles distinguish our partnerships, investment process, and results.
OPERATING PRINCIPLES
We Treat Our Clients as Partners.
Your Success Is Our Success.
We are with you every step of the way. We invest in our own strategies, profiting from the gains and enduring the losses alongside you, so our interests are aligned.
We are focused on generating strong, differentiated returns for our partners rather than maximizing assets under management as “asset gatherers” do.
We subscribe to the principle best espoused by Warren Buffett, “We cannot promise you results, but we can guarantee that your financial fortunes will move in lockstep with ours for whatever period of time you elect to be our partner.”
Long-Term Partnership.
We measure success based on long-term value creation of investee companies rather than short-term market gyrations in the value of the stock certificates we hold.
Investors First.
Our prime directive is to generate investment returns for our partners and ourselves. This differs from the mindset of traditional asset gatherers, whose revenues are dependent primarily on their assets under management.
Integrity and Good Character.
A stellar reputation takes a lifetime to build and an instant to destroy. If you can see the line, you’re too close to it.
Transparent Structure.
We offer the ability to invest through separately managed accounts (SMAs) where assets remain in your name. You can view your account 24/7 and no-one can move money in or out of the account but you.
Expand Investor Accessibility.
We strive to expand access to investing and contribute to financial literacy with our educational resources and flexible minimums in our Diversified Alpha strategy.
INVESTMENT PRINCIPLES
We Capitalize on Our Variant Perception.
Niche Focus on CEO Change.
We hunt for transformative opportunities where newly appointed CEOs will create or destroy shareholder value. These changes produce inflection points for stocks, which has resulted in significant alpha and dispersion over 20+ years.
Variant Perception.
We synthesize deep diligence on senior management and the Board with fundamental bottom-up research. We uncover structural and strategic insights and quantify their impact on companies’ financials. The insights we discover in this mosaic enable us to assess whether the CEO’s expertise and fit are a match to solve the challenges facing the company.
Concentrated Portfolio.
The long portfolio consists of 20-30 investments to capitalize on our deep research and analysis. We rank the attractiveness of long and short ideas, monetizing gains and managing risk along the path to an exit. We also offer investors the opportunity to increase their exposure to our best ideas through special purpose vehicles (SPVs).
Multiple Ways to Win.
We own companies that we believe will at least double in value over three years. Downside is a fraction of the upside. Multiple catalysts can unlock value and we are confident senior leadership will accrete value.
Take Prudent Risks.
We take risk when we are being adequately compensated by markets. Accepting too much risk may result in excessive losses. Bearing too little risk means we may fall short of targeted returns.
Intersection of Fundamental and Quantitative Analysis.
We utilize quantitative techniques to identify meaningful patterns and make predictions. This data-driven approach enables us to systematically analyze thousands of stocks a day. At the heart of our algorithms are fundamental factors.