Rule Capital Management, LLC manages an event-driven hedge fund. Our core investment strategy is to exploit inefficiencies in stock prices caused by the friction of market regulation. We have several tactical strategies to accomplish our core strategy. While we analyze many stocks across industries and market caps, we expect to acquire fewer than 100 positions per month. Most trades are long-only with less than a 90 day duration. Backtesting of the strategy has yielded favorable results relative to the overall stock market.