The Fund will aim to compound investors' capital significantly over the long-term, with low correlation to the broader equity markets, by investing in long/short equities across all sectors in the U.S. and major international markets. The Principals' philosophy holds that superior risk-adjusted returns should be a byproduct of a cautiously contrarian, long-term perspective; exhaustive due diligence on key value drivers; shorting to generate alpha rather than to hedge; and managing risk prudently. The Fund's portfolio will be concentrated, comprised principally of the Principals' best ideas of long investments and alpha short positions. It will focus primarily on small- and mid-capitalization public companies that are misperceived or neglected by Wall Street, but may also include select large capitalization companies that meet the Principals' criteria. Limited Partners should be willing to tolerate moderate short-term volatility in exchange for long-term returns.