Approach
Creemore Capital Management
Creemore is being designed to invest in public equities and liquid futures through a concentrated, flexible and risk-conscious process.
Opportunity first
The intended mandate does not begin with a requirement to be invested, to remain net long or to express a view on every market.
It begins with the opportunity set.
Capital would be deployed when the relationship between potential reward, defined risk and available evidence is compelling.
The intended process
The objective is not merely to find a good company or an interesting macro story. The objective is to identify a tradable gap between what the market expects and what the evidence suggests may occur.
The process seeks to understand both the thesis and the strongest case against it.
The approach does not assume that a security must rise because it appears undervalued or fall because it appears overvalued. The market must confirm that the opportunity is becoming actionable.
Risk is not an afterthought and is not managed through hope.
The largest position should represent the strongest combination of evidence and favorable asymmetry, not simply the most exciting story.
Positions may be increased when evidence strengthens, reduced into favorable price action or exited when the market invalidates the view.
The process seeks to distinguish ordinary trades from rare positions capable of producing disproportionate long-term value.
Characteristics
Flexible by mandate
Concentrated long and short public equities
Select use of liquid futures
Fundamental research
Technical and market-structure confirmation
Explicit downside controls
Active position sizing
High liquidity
Cash as a deliberate allocation
No obligation to remain fully invested
No attachment to permanent market narratives
No use of complexity for its own sake