Public Markets

Capstone provides public market investors with actionable and differentiated investment ideas in credit, equity and less-liquid special situations. Our analysts focus on the minutiae of public policy, spending hours reading public documents, attending policy meetings and speaking to policy experts. Since our staff is composed of experienced investment analysts, they are able to spot where the consensus could be wrong about specific policy issues and quickly create investment themes around this analysis. Our analysts deliver this incisive analysis to our clients through comprehensive reports, brief updates and regular phone conversations. In addition to receiving our published research, clients are encouraged to request ad-hoc analyses that specifically address their current needs.

 

Why is Capstone Better?

Investment Experience –

Capstone professionals are experienced investment analysts, not former government employees. Our staff has substantial experience in vetting, initiating and seeing through investment ideas. They have developed the ability to distinguish between a "plausible" idea and one that will actually create real value. Though our people are investment analysts first, through repeated deep-dive analyses of specific policy issues, they become serious policy experts as well.


Detailed Analysis –

We believe the value we create for our clients lies deep in the details. At Capstone, our product is comprehensive and thoroughly vetted analysis, not raw information.  Our analysts ensure they use only public information in their research, whether that information is garnered from public documents or through conversations with policymakers. We believe our edge is simply the willingness to read more than anyone else on esoteric policy topics and the ability to create investment ideas from that knowledge.