Our Ideology

• Making good returns is important; but loosing less during the drawdowns is more important.

• If we don’t change our investment stance as macros change, we’re being passive regarding cycles.

• We believe Reversion to mean is true in all walks of life including investing.

• Greatest way to optimize the positioning of a portfolio at a given point in time is through deciding what balance it should strike between aggressiveness and defensiveness.

• Future returns will be better when investors are depressed & fearful and worse when they are euphoric and greedy.

• We come from the school of thought of Skin in the game.