Again Capital Management LLC
Informed Performance

Investment Philosophy


INVESTMENT PHILOSOPHY

Our investment philosophy is derived from a desire to create long-term partnerships with our clients by maintaining a disciplined, repeatable investment process that meets our clients’ expectations. Capital preservation and risk management are key tenets of our team’s investment philosophy. 

We believe that consistent application of our simple, but disciplined investment approach creates the foundation for repeatable, superior risk-adjusted returns.

·         Liquid Markets: We focus on trading in liquid, transparent, exchange cleared and regulated markets, which allows for reliable and consistent market information and trade execution.

 

·         Primary Research: Our proprietary CAT-5 TOTALVIEW approach identifies thematic market opportunities through primary research and thorough market analyses that cover several perspectives, particularly energy centric perspectives.

 

·         Rigorous Investment Process: Based on our CAT-5 TOTALVIEW research results, our investment team applies a rigorous proprietary trade scoring to identify substantiated and actionable trade opportunities.

 

·         Portfolio Construction: Our investment team uses an ongoing dynamic risk allocation process to manage portfolios and incorporate trades that can capture expected market opportunities. Portfolios may include diversification through a variety of appropriate structural and relative-value trades, including intra-market and inter-market spread trades, and short-term and medium-term opportunistic trades.

 

·         Disciplined Risk Management:  Risk management is central to our overall investment approach. Risk is approached from the standpoints of individual positions and the entire portfolio.


Defined risk metrics are established for each position within a portfolio, and downside risk is mitigated through disciplined money management rules, including  price-to-stop and dollars-at-risk.


INVESTMENT STRATEGY 

The commodity trading landscape has changed over the course of the last decade. Traditional trading methodologies that primarily rely upon basic supply and demand fundamentals tend to be challenged, as they do not take into account the significant influences associated with macroeconomic and other important considerations that affect price discovery.

Again Capital’s proprietary CAT-5 TOTALVIEW approach creates a concise and more comprehensive view of the commodity markets and their rapidly changing future price directions. CAT-5 TOTALVIEW allows our investment team to confidently identify trade opportunities with higher probabilities of success and to make informed and substantiated trade decisions aimed at achieving superior risk adjusted returns. 

The CAT-5 TOTALVIEW methodology analyzes relevant quantitative and qualitative data points related to the following categories:

  • Global Macroeconomic Conditions
  • Market Fundamentals
  • Technical Indicators
  • Market Sentiment Indicators
  • World Situational Impacts

Our investment team strongly believes that this comprehensive approach results an optimal approach to building and maintaining an opportunistic portfolio.