TCP’s Principals have had demonstrable success organizing and growing businesses, funds, and portfolios from inception. The firm capitalizes on its experience-based knowledge to build comprehensive investment and business management teams. We will continue to develop an institutional infrastructure including a risk and portfolio management apparatus. These aspects, combined with specialized capital-raising attributes, facilitate our ability to consistently deliver superior risk-adjusted returns to our clients.
We believe a conservative mentality toward capital preservation drives loss avoidance. This approach inherently leads us to focus on higher returns achieved with acceptable risk. Because we have significant skill analyzing entire capital structures with a creditor’s mentality, we acquire in-depth knowledge of companies, managements and their securities. The in-depth knowledge we acquire allows us, within a given capital structure, to be asset-class agnostic. Our research process also supports the construction of high conviction portfolios. Once we have developed a portfolio, we rigorously monitor and manage portfolio risk in a manner that drives consistent outcomes. A disciplined entry leads to a disciplined holding and exit of an investment.
Top – Down Bottom – Up Convergence
While we are not macro investors, we acknowledge that we must be acutely aware of the world in which we live and invest. We do not believe that we must predict interest rates per se, but the state of broad economies matter. An appreciation of the state of an economy or broad trend informs our world view, Top-Down. In turn, our world view is part and parcel of our fundamental view, Bottom-Up. Where they intersect, we describe as Top-Down, Bottom-Up Convergence. Performance is achieved when our honed risk aptitude and expertise building high conviction positions is combined with Top-Down, Bottom-Up Convergence. Performance is enhanced with an appropriate technical overlay that incorporates risk/reward, supply/demand, and entry/exit at position and portfolio levels.