INVESTMENT PHILOSOPHY

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.