Ocean Park Select Readings

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April 2020: "[The firm] seeks to make investments that draw upon sector expertise in recognizing, structuring, and evaluating consequential changes that are often the catalysts for opportunities…

"[The strategy] was created because equity dispersions at times become extremely elevated among  industrial-related companies with uncommon risk-return profiles that are significantly undervalued or are undergoing or likely to undergo significant change and are ripe for investment..."

This company was once one of the world's largest makers of industrial products. Vocal, engaged investors helped unlock its value.

"Today is clearly independence day, not only for these three businesses that were trapped in an overburdened corporate structure, but also for shareholders who have been waiting patiently for this day to come," said Dennis Jean-Jacques, portfolio manager..."

A classic two-year campaign as an engaged shareholder to help restructure an S&P 500 holding company.

"In the philosophy of Jean-Jacques, a company should be a resource-conversion mechanism--converting all the company's resources into shareholder value. Under Thermo's historical structure, it wasn't able to shift resources from cash-rich units with no prospects to cash-poor units with good ones.    Chief Executive Dick Syron agrees..."

An instructional essay, written by Ocean Park republished by Latticework in The Manual of Ideas/Best Ideas of 2017 issue and the March 2018 issue of Spin-Off Research, an extensive, advisory report for special situations investors. 

"Brexit. Trump. The Fed. Change, whatever it may be, is the only constant in the world… But in order to truly outperform, you need to go where traditional investors are not and where ETFs, quantitative funds and passive managers cannot go..."

McGraw-Hill Professional Business Books, New York, October 2002:

Based on professional experiences apprenticed with a legendary investor and a thesis project on portfolio construction, valuation and risk conducted a few years earlier while Ocean Park's CIO was a graduate student at Harvard Business school.  Recently released in paperback edition, The 5 Keys to Value Investing was translated into three languages, including Mandarin Chinese.  It is now used as an instruction book at several leading universities.

At the height of a market bubble, a visit to Berkshire Hathaway’s 2000 Annual Shareholder Meeting in Omaha, NE

An apprentice at that time, Ocean Park's future CIO makes a public comment and questions Buffett and Munger by first thanking them for their unwavering commitment to share their investment experiences with students.  He then asks Buffett to share his views on assessing a company's moat; then (surprisingly) Munger and Buffett share their personal perspectives on the HBS model.