Pisces | Managed by Gerald Scane & Timothy Merrill
Investor Profile: Pisces pursues investment returns with an open canvas to all asset classes and the ability to participate in domestic as well as international securities. The team’s research objective is to uncover investment opportunities with the most attractive risk/return profiles without limits to market capitalization.
Goal: Capital appreciation by anticipating new market trends.
- Research is fundamentally based on equities that focus on gaining market share and exhibit strong potential in evolving secular market trends
- Managers examine protective barriers around competitive advantages for each company, analyze financial results and develop expectation models for future price targets
- Risk appetite should be above average due to concentrated high beta stock positions ranging from 20-30 equities
- Capital deployment is at the discretion of the portfolio managers and may result in longer periods of elevated cash allocations
Although the core to Pisces’s strategy is to acquire stocks trading at a discount to intrinsic value defined by a 3-5 year time horizon, flexibility is offered to the portfolio team to take advantage of shorter to intermediate trading opportunities if dislocations are identified. A contrarian philosophy is generally applied to seek out under-owned, under-appreciated investment opportunities.