“We never invest in a business we do not understand

cit. Warren Buffet

We value independent research

Our methodology is based on in-depth study of individual companies. We exploit valuation asymmetries between stock market price, overlooked catalysts, inflection points and poorly understood long-term competitive advantages.

Rational and repeatable process

Our management strategy is based on the search for valuation mismatch, i.e., companies whose price is largely underestimated by the market. We exploit asymmetries between stock market value and the value of the business, investing only in cases of significant upside vs. the risks involved.

Active

Independent from the benchmark, used only as a reference for measuring results.

Flexible

The portfolio is restructured according to changing economic and financial conditions.

Opportunistic

We exploit times of volatility and market stress, as they generate the best opportunities.