Core Beliefs

1. Markets are efficient in the long-term, but inefficient in the short and medium-term. This creates opportunities to generate higher than expected returns.

2. Returns are probabilistic, not deterministic. This means identifying multi-baggers ex-ante is “impossible” in the sense that while one may be able to spot the potential for 2x, 3x, or greater returns, that outcome (and all other outcomes) cannot be guaranteed.

3. The most important key to success in investments is to stay in the game.