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Walrus Partners experience with
the Special
Situations Strategy can be turned into real
profits for investors. We buy and sell Special
Situation stocks for Individually Managed Accounts(see
the following pages for more details) and for
S2 Partners, LP*. Managed Accounts feature 18
to 25 different Special Situation stocks scattered
among several thriving industries. Such diversification
helps a portfolio withstand sudden shifts in investor
sentiment and the inevitable reversals that all
markets experience.
Portfolio holdings are equal-weighted
to the degree that it is practical. Trading is
kept to a minimum since investment expenses are
a key determinant of investment success. Our average
holding period for Special Situations shares is
more than 12 months; winners have, on average,
been held longer; mistakes(and they will happen)
are weeded out quickly: holding period for the
average unsuccessful holding has been well under
1 year.
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* The Special Situations
Managed Account strategy is not intended to be
a complete investment program and has been designed
for sophisticated persons able to bear the risk
of such investments. There can be no assurances
that the strategy will achieve its objectives.
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