Foundry Value Fund commentary for the month ended December 31, 2016.
Foundry Value: Investment Objective
The goal of the Foundry Value Fund, LP (“FVF” or the “Fund”) is to generate portfolio alpha over market cycles, while minimizing market risk. We focus on companies trading at a deep discount to intrinsic value with a catalyst on the horizon, where we believe we truly have a “margin of safety”. We invest where valuations are irrational and catalysts misunderstood to achieve superior performance over time. The Fund will only hold our “best ideas”, resulting from deep, fundamental analysis and engagement with a wide network of industry contacts. While we intend to hold positions for a 1-3 year time horizon, we occasionally will invest to exploit shorter term opportunities. In certain situations, the Fund will utilize public activism strategies in to unlock value for all shareholders.