Khaner Capital Management
Khaner Capital management is a long-term equity hedge fund focused on value, transformations, and turnarounds. The firm consists of value stock pickers, long and short, that manage low leverage, hedged portfolio. By growing and protecting investors' capital, the fund has compounded at a rate in excess of the major market hedge fund indices and the S&P Value Index since 1997.
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Value to Khaner Capital means buying good companies and great prices. It's not based on concrete things like a low PE. It's if they can buy a stock that will be worth much more in the future 1,3, 5 years
- Investing in a 1,3, and 5 year time horizon.
- Look for 50% gains and 100% on harder turnarounds
- They incorporate a Macro viewpoint into their investing framework
- They avoid companies who potentially may go bankrupt or declining industries
- Maintains a "Hundred year stock list" - contains great companies that rarely become inexpensive
- Have been keeping this list for decades
- Its rare when a stock on the list becomes cheap, but they love it when it does
- Will hedge their portfolio with market puts
- Turnarounds and transformations are tough - you have to watch the debt, make sure you have a great management team and monitor the balance sheet closely