News & Insights

Banks in 2008 Versus 2020: This Time Part of the Solution

During the Financial Crisis, banks were nearly responsible for the collapse of the financial system given excess leverage, toxic balance sheets, mismanagement, and questionable...

LSOFX Q3 2020 Shareholder Letter

The benchmark S&P 500 continued its charge higher during the third quarter, despite significant increases in COVID-19 cases and certain states such as Florida, Texas, Arizona and...

Management Access: A Surprising Bright Spot for Investors During Pandemic

We place a high premium on direct contact with management while researching potential investments, and also as part of our ongoing work on current holdings.

Playing the Recession Playbook in Defense, Part 2

Last week, we discussed how we have been active investors in the defense industry for years. There are a number of aspects we find attractive in the industry:

We have been active investors in the defense industry for a number of years.

Playing the Recession Playbook in Defense, Part 1

We have been active investors in the defense industry for a number of years. There are a number of aspects we find attractive in the industry:

LSOFX Q2 2020 Shareholder Letter

The COVID-19 global pandemic continued to have massive implications during the second quarter, as cases continued to rapidly rise in the United States. The unemployment rate...

Why Invest in Long Short Now

Investing in Long Short – Why it’s Important in Today’s Environment Are You Concerned About: Equity valuations being near all-time highs? Winners and Losers – this being a stock...

LSOFX Q1 2020 Shareholder Letter

We hope you are staying well during this time. These are uncharted waters for all of us.  The COVID-19 virus pandemic is first and foremost a health crisis with associated...

Crisis Playbook

With Volatility Here to Stay What Should You Invest in Now? How can you help your investors take advantage of the volatility? Unfortunately, what has worked well for ten plus...

LSOFX Q4 2019 Shareholder Letter

“Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once-unthinkable dosages will almost certainly bring on unwelcome...

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