Buffett's Massive Cash Hoard

Buffett's Massive Cash Hoard

For years, we have read numerous articles and seen countless television commentators refer to Berkshire Hathaway’s “massive cash hoard” as if the company’s entire cash and fixed income balance (which is in the hundreds of billions) could be viewed as “dry powder” for potential acquisitions. This...

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Beyond the Headlines

Beyond the Headlines

Broad sector performance—whether upward or downward—often obscures individual opportunities lingering beneath the surface. As bottom-up stock pickers, we specialize in identifying these businesses, uncovering those we believe are mispriced and/or overlooked. Currently, two sectors where we’re...

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The Next Decade

The Next Decade

The investment landscape is shifting. In the decade leading up to COVID-19, the environment was characterized by low interest rates, easy money, and rapid growth in a handful of dominant technology companies. However, the next 10 years look far less certain.

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Defending Defense

Defending Defense

Editor’s note: The following was adapted from our 4Q 2024 Commentary..

In a world where geopolitical tensions are escalating and global conflicts are high, the defense sector faces unprecedented challenges and opportunities. Despite the recent downturn in these stocks, we believe that the current...

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Managing the Burden: The Implications of Rising U.S. Debt

Managing the Burden: The Implications of Rising U.S. Debt

Editor’s note: The following was adapted from our 3Q 2024 Commentary

In the months leading up to election day, both presidential candidates made promises of tax cuts and credits, housing incentives, childcare assistance, and other proposals. Unfortunately, little explanation was provided for how...

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Investing in Convertible Bonds With Attractive Risk/Reward Characteristics

Investing in Convertible Bonds With Attractive Risk/Reward Characteristics

The post was originally published October 10, 2019 and updated November 21, 2024. 

“We are attracted to the downside protection that a convertible security’s bond feature offers, while also offering the ability to capture a significant portion of the upside in the issuer’s stock, given the...

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Prospector Election Impact on Banks

The contrasting views of Republicans and Democrats on banking regulations could be one of the starkest differences in the upcoming U.S. presidential election: Republicans believe in a more laissez-faire approach while Democrats favor a tighter regulatory environment.

During President Biden’s term,...

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Soft Landing or Mirage?

Editor’s note: The following was adapted from our 2Q 2024 Commentary

As the U.S. economy absorbs the most aggressive Federal Reserve tightening cycle in recent history, the historically elusive "soft landing" increasingly is becoming the base case for investors. While economic growth has...

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Election 2024: Part 1 Parties, Policies, and Perspective

Election 2024: Part 1 Parties, Policies, and Perspective

With less than three months before Election Day, the race for U.S. presidency is heating up.

Every election brings the potential for unknown outcomes and volatility. However, this cycle has already had more than its share—from a debate performance by President Biden widely viewed as so disastrous...

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Pockets of Opportunity in Industrials

Pockets of Opportunity in Industrials

Updated version of original article from May 2023

At Prospector we evaluate all of our investments from the perspective of downside risk mitigation above all else. Across all industries, we target companies with strong, low-leverage balance sheets, dependable free cash flow generation,...

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The views described herein do not constitute investment advice, are not a guarantee of future performance, and are not intended as an offer or solicitation with respect to the purchase or sale of any security. Investing involves risk, including loss of principal. Investors should consider the investment objective, risks, charges and expenses of a Fund carefully before investing. Please review the offering memorandum or prospectus of a Fund for a complete discussion of the Fund’s risks which include, but are not limited to: possible loss of principal amount invested; stock market risk; value risk; interest rate risk; income risk; credit risk; foreign securities risk; currency risk and derivatives risk.

Nothing contained herein constitutes investment, legal, tax, or other advice nor should be relied upon in making an investment or other decision. Any projections, outlooks or estimates contained herein are forward looking statements based upon specific assumptions and should not be construed as indicative of any actual events that have occurred or may occur. 

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