Investment Process

WCP portfolio construction starts with a top-down view:

  • Look for ‘macro-trends’ to develop specific industry thesis
  • Identify key variables that drive sector/sub-sector focus
  • Examine proprietary analysis that leads us to overweight sub-sectors where Wall Street research is particularly weak
  • Target industry sub-sectors with the highest relative growth rates and high returns on invested capital without needs for excess financial funding
  • Develop conviction in trend, stage in cycle, and opportunities from divergence from consensus thinking

WCP finishes with in-depth bottom up analysis:

  • Find most talented management teams with prior successes
  • Emphasize companies with new product cycles or a strong, growing pipeline, high return on capital
  • Understand competitive advantage and sources of cash flow
  • Focus on companies with an executable commercialization strategy