The world runs on electricity, is built from steel, and is connected by railroads and shipping lanes. The backbone of the modern economy is not found on the internet or in your iPhone, but in the materials, manufacturers and infrastructure that make both possible.
Massif Capital simplifies the complex process of investing in Basic Materials, Energy and Industrial businesses, creating a unique portfolio that produces uncorrelated long-term capital appreciation.
The foundation of a successful investment is capitalizing on the market's mispricing of risk or incorrect discounting of future value. This requires us to be historically informed and intelligently contrarian-- learning things others don’t and understanding things as they are rather than as they are believed to be.
Our INVESTMENT FOCUS
Our investable universe is companies operating within the Basic Materials, Energy and Power and Industrial Industries, as well as associated service companies. We maintain a concentrated portfolio that is ideally between 10 to 12 long positions and 6 to 8 short positions with a market cap minimum of $200 million.
THE CRAFT OF RESEARCH
The goal of our research is always to understand what governs the potential success (or failure) of a company under consideration and determine how attractive an opportunity the company is relative to all our other current opportunities. In this way, our research always seeks to answer the question: is this the highest and best use of the capital we have available to us?
THE ART OF DECISION MAKING
A consistent decision making process allows us to evaluate the upside and downside of an opportunity in an intellectually honest way, reducing behavioral bias.