| Investment Philosophy
Stock Market Returns
The stock market offers one of the few ways to increase
capital after taxes and inflation. In the long
run, stocks substantially outperform bond and
money market investments. The Zazove Convertible
Strategy seeks to achieve the long-term returns characteristic
of stocks.
Safety
The preservation of capital is an essential component
of a successful investment strategy. Our disciplined
convertible strategy has substantially lower risk than
the broad stock market.
Long-Term Perspective
Successful investors must maintain a long-term perspective.
Our convertible strategy is not distracted by daily
headlines and short-term market fluctuations.
No Forecasts
Over the long term, no one can consistently and accurately
forecast the movements in the stock market, interest
rates or the economy. Our quantitative strategy
is based on probabilities and statistics rather than
predictions or market timing.
Proper Diversification
Diversification by company and industry are necessary
in any equity-type investment. This is particularly
important given our emphasis on preservation of capital
and non-reliance on prediction.
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