Hedge Fund: Domesitc Equity: Long/Short CATALYTIC INVESTING We believe there is a greater chance of a security being mispriced when the company is undergoing some form of fundamental lifecycle change We seek to identify companies that are on the verge of substantial financial improvement after a period of prolonged underperformance. We are particularly interested when these companies are close to trough earnings and multiples Key Catalysts: management team changes, new product cycles, and capital structure improvements