The fund
managed in public.

“Therapeutics: where the science compounds and the asymmetry sometimes does too. I read the trial data, then I read it again. Most of it doesn't work.”

“The market is not always rational. Every cycle, great businesses get punished — not because their fundamentals are broken, but because sentiment is. A bad earnings surprise, a sector-wide selloff, a macro panic. The stock collapses. The business doesn't. That's where we come in. Dislocation Alpha Fund systematically identifies companies where the stock has been dislocated from its intrinsic value — strong cash flows, durable competitive moats, solid balance sheets — yet the market has temporarily abandoned them. We buy what the market misprices. We hold with conviction. And we wait for reality to catch up to value. The result? A concentrated, high-conviction portfolio built to do one thing: beat the S&P 500 over the long run — not by chasing trends, but by staying anchored to fundamentals when others have lost their nerve.”

“Hydrocarbons, mined metals, and the chains that move them. Inflation has shown up; I think it stays. The book is positioned for it.”