To achieve annual return of CDI (Brazilian Overnight Deposit Rate) + 10%,
through the combination of multiple asset classes investment.
of the cycle
/ The accumulation of investment experience, enables us to identify investment opportunities supported by deep-dive fundamental and macro analysis.
Macro analysis approach
/ Experiência in loco em diversos países;
/ Differentiation between signal x noise;
/ Analysis of market trend reversals;
/ The adequate investment horizon for a thesis to mature;
Private equity analysis approach for public equities
/ We focus our capital and time on our highest-conviction ideas;
/ In-depth and detailed analysis of the business model;
/ Conhecimento profundo sobre os tomadores de decisão;
/ Mapeamento dos incentivos aos principais executivos.
/ Understanding risks and hedges in order to avoid permanent loss of capital;
/ Stress test as main risk metric;
/ Search for a superior reading on the probabilities distribution, good asymmetries and margin of safety;
/ Near-term volatility as investment opportunity;
/ Stop loss rules to protect against Black Swan events
/ A single book generates a series of advantages;
/ Analysis of the economic cycles will determine the risk appetitte;
/ Detailed monitoring of companies provides input for macro decisions;
/ Detailed macroeconomic monitoring provides a superior framework for equities investments;
/ Active allocation in different classes;
/ Capacity of neutralizing specific risks.