• About Us
• The LCP Value Approach
• Investment Philosophy and Process
• Our Products
  • Small Cap Value
  • Mid Cap Value
  • Large Cap Value
  • All Cap Value
• Our Teams
  • Investment Teams
  • Operations and Trading Team
  • Client Service & Marketing Team
  • Administrative Team
• Opportunities
  • Brokerage
  • Employment
• Contact Us

Investment Philosophy and Process

At LCP, we are price-to-intrinsic-value oriented. We buy stocks trading below intrinsic value and sell stocks as they become fully priced, have a change to the original thesis, or when a better opportunity exists. Intrinsic value is the estimated present value of future cash flows appropriately discounted for risk. We invest in stocks with attractive valuations and identifiable future earnings and cash flow growth. We believe that over time this approach will lead to superior performance with limited downside risk. The objective of each portfolio is to exceed the return of their respective benchmark with generally lower than average tracking error and risk metrics.

LCP's four investment products cover the entire market capitalization spectrum. We place a high premium on deep fundamental research, arriving independently at expectations of a company's normalized profit and returns. After analyzing a universe appropriate to the respective product, we construct screens to identify undervalued businesses. We then determine if there will be an extended period of earnings and cash flow growth.