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Thunder’s
investment style is built upon that of paying only reasonable prices for
growth (GARP). In addition to holding well-researched core positions,
Thunder maintains an active trading approach to managing its portfolios.
Industry Focus
Thunder Capital invests primarily in industries that it feels have reasonable
valuations with prospects for growth within the context of existing economic
conditions and trends. Recently, Thunder has focused on the gold, energy,
precious metals, retail and financial sectors. Thunder Partners LP is
a long/short fund with somewhat aggressive target returns and will also
invest in the higher growth segments of the market. Thunder Gold Partners
LP is a long/short fund that seeks to utilize the firm’s specific
expertise in precious metals.
Approach
While an exhaustive, “bottom-up” fundamental research approach
is used to identify specific investment opportunities, the process starts
with “top-down” analysis as extraneous factors such as interest
rates, exchange rates and world economies have great impact on investment
choices. This “top-down” analysis and technical assessment
of the overall market environment assists in determining the long/short
mix. “Top-down” analysis is integrated with bottomup”
fundamental research in order to identify specific securities deemed to
be under- or over-valued. Technical analysis is utilized in risk management,
the detection of general market psychology and maximizing entry and exit
points.
Positions
Thunder generally maintains a dynamic mix of core and trading positions.
The firm generally seeks to invest in securities of companies with honest
and strong management teams that utilize conservative accounting practices,
offer leading edge products, have strong financials, and valuable franchises
with excellent
business prospects, and strong growth.
In its short-selling efforts, Thunder focuses on specific over-priced
companies with deteriorating fundamentals, questionable accounting practices,
and weak management. Thunder believes it should be able to identify profitable
short sale candidates in most stock market environments.
While there is no market cap focus across it’s funds, Thunder seeks
to maintain reasonably liquid portfolios across all accounts.