Our Strategies

We manage two distinct strategies with the common underlying approach of buying and holding securities we believe are undervalued.

Income Opportunity Strategy

An unconventional approach to income that strives to generate a high level of income while also preserving the potential for capital gains by investing in any type of security anywhere in the world.

Planes, Trains and Newspapers – Read All About Why We Own These Names

Opportunity Equity

A concentrated, go-anywhere strategy that attempts to generate capital appreciation over the long term.

2017 Outlook

Why invest in LMM Strategies?

Focus on investing, not the benchmark: Just because a security or sector is in a benchmark doesn’t mean it’s a good investment. In fact, the broadly efficient nature of markets implies that most of what’s in the benchmark is rationally priced. So, we make investments without thinking too much about the benchmark’s constituency and instead focus on valuation and risk-reward drivers from a bottom-up, fundamental level.

Invest for long-term results: Our long-term approach is ingrained in our culture and investment process. Our culture supports long-term, rational decision making. When analyzing companies, we think carefully about what management teams are doing with their shareholders’ capital. We sift through market data to determine what will help us differentiate between secular and cyclical change. We remain patient through short-term swings and often do what the crowd is not.

Employ unconventional thinking: We systematically pursue new and better ways of understanding how people, businesses and markets behave to enhance and challenge our thinking. As complex, adaptive systems, markets constantly provide us with new information, which we use as a starting point for inquiry. Nontraditional sources, including academic and literary journals, play an important role in our process. We are particularly involved in both the Santa Fe Institute  and the London Mathematical Laboratory.

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