Investment Philosophy

Financial markets offer exploitable inefficiencies.

Crescat’s edge is our ability to develop and profit from global macroeconomic themes. Crescat’s themes are robust narratives and supporting data based on deep research into the opportunities identified by our equity and macro models. Our proprietary models are built on value and behavioral investment principles. The models guide us to our themes. The themes are the real-world backstories that bring our models to life. We elucidate our themes in our quarterly investor letters. By discerning the richer narratives behind the securities recommended by our models, we believe we have an advantage over pure systematic quant managers.