Our approach is designed to define the most effective path to produce the most outlier returns. Doing this requires creating distinct and desirable positions where we can win and avoiding chasing after the over-saturated places we can’t. Positions where we don’t engage competitors in zero-sum competition.

Being willing to make clear trade-offs and choosing what not to do. Swinging not at every strike that comes across the plate, but only the right ones for us. Building initiatives that fit together in ways competitors can’t replicate. All producing outsized returns to investors.