News & Insights

LSOFX Q4 2024 Shareholder Letter

Current Market Environment The most consequential event of the fourth quarter was, undoubtedly, the U.S. presidential election, which saw a return to the White House for Donald...

The Good, The Bad, and Hedge Funds

Breaking Down Hedge Funds The term “hedge fund” has a host of connotations, some of them good and some bad. Certain prominent hedge funds and their managers have pioneered some...

Long Short is the New High-Yield Bonds

High-Yield Bonds High-yield bonds, also dubbed “junk bonds,” are bonds that pay a higher yield to their investors to compensate for the additional risk when compared to buying...

A Spotlight on Bank Stocks

After some years of lackluster returns, we believe the outlook for bank stocks is brightening. Broadly speaking, we can divide the reasons for this into two categories: interest...

An Equity Strategy for High-Priced Markets

As we prepare to turn the calendar to 2025, equity investors have good reason to feel rather euphoric. The S&P 500 Index has returned almost 29% year-to-date, on a total return...

The Challenge of Investing in a Full-Employment Economy

One of the peculiarities of this rate-cutting cycle—recall that the Federal Reserve slashed interest rates by 50 basis points in September—is that it comes at a time of full...

LSOFX Q3 2024 Shareholder Letter

Current Market Environment The third quarter was marked by strong equity markets and declining interest rates as a consensus coalesced around the beginning of a Federal Reserve...

An Equity Strategy Built for Election Uncertainty

An Equity Strategy Built for Election Uncertainty As the momentous elections on November 5 approach, the financial media will be replete with advice on how investors should...

The Potential Charm of Short-Selling

The Potential Charm of Short-Selling We know that holding a portfolio of attractive stocks has been a successful long-term strategy to build wealth. Such assets tend to appreciate...

Portfolio Manager Insights: The Nuances of Insurance Investing

Insights from Prospector Partners, Sub Advisor to the LS Opportunity Fund. Insurance is a distinctive product. The buyer (consumer or business) is paying premiums today to collect...

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