An Investment Partnership
Variant Views
Focused Investing
Enduring Capital
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Our Approach
We Look for Mispriced Change.
Anti-extrapolation
We do not assume a company’s past financial trends will persist. For most businesses, the future will look very different from their past.
Trajectory over Quality Metrics
Our goal is to identify positive shifts in business trajectory early, before they appear in the financials and while the market is still looking backward.
Variant Views Create the Opportunity
We seek a differentiated understanding of a company’s future relative to what the market already expects. The more variant the better.