We do not own the market, we own businesses. Our approach is to own a handful of deeply researched, well understood and overlooked companies that are inexpensive, growing and can reinvest cash at high rates of return.
It is an appropriate solution for investors who appreciate fundamental research, sound reasoning and seek an alternative to mass market indexation.
We expect to hold our investments for long periods of time, judging their success not on the day to day changes of the stock price but on the performance of the operations over a 3–5 year period.
The compounding enabled by patience favors the investor who buys good businesses when the market is skeptical, offering potential for uncorrelated and unusual capital returns.
Long Cast Advisers, LLC, is an independent registered investment adviser located in Brooklyn, NY, investing on behalf of individuals, family offices and endowments. It does not invest in companies that participate in the production of weapons or hydrocarbons.