Effective risk management is at the heart of our business. Our founding member, jeffory a. Smith, heads a small group of experienced investment officers with complementary, intersecting skillsets seeking to take controlled risk on an opportunistic basis. Our investment process is supported by information research and quantitative analysis to capture and organize data, to inform and improve decision making, and maximize efficiency of trade expression. We have a preference for derivative products that allow precise expression of views, analytically defined downside, and convex upside. Technology and automation is a focus across the firm.

Investors face tremendous uncertainty amid elevated inflation and recession risks and bouts of market volatility.

Current market volatility presents attractive opportunities for active managers. We have built up a tremendous amount of portfolio flexibility to take advantage of mispricing created by the volatility and uncertainty, and we are optimistic. Having a broad global opportunity set, unconstrained by any type of benchmark that drives asset allocation decisions, provides an advantage, in our view.