The Hayden Capital Way
A concentrated value approach to public markets investments.
At Hayden Capital, we are value investors. Our primary focus is the long-term preservation of capital, while seeking to compound capital at above-average returns over a full market cycle. We invest across the market cap spectrum, seeking opportunities to purchase high-quality franchise businesses at discounted valuations.
Our key tenants are:
- Buy high-quality businesses at rational prices for the long-term.
- Focus on underlying economic values, not stock prices.
- Stay within our circle of competence.
- Keep things simple. Rationality and common sense can go a long way.
- Concentrate capital in only the best ideas.
Additionally, we follow a research-intensive, concentrated strategy which generally consists of 6-15 core positions. The strategy is long-biased, however we will occasionally short individual companies with highly asymmetric risk-reward characteristics. Additionally, we’ll hold large cash positions and may use derivatives to hedge broader market tail-risk during periods of excess market exuberance.