Throughout our history we have firstly pursued arbitrage opportunities and other interesting ideas that can supplement arbitrage. We are generally not prognosticators, attempting to divine macroeconomic and geopolitical events and market directions.

In normal market conditions, we seek to deploy capital to the best risk/reward opportunities while maintaining a focus on capital preservation. Yet market dislocations and volatility can often arise from unexpected macroeconomic or geopolitical events, and long-term investors know that we often find our opportunity set more robust during periods of market turmoil.