Welcome Letter
We find ourselves at the end of March, taking the temperature of the market. The world around us is unsettled, and the VIX index has just climbed above 30, indicating high levels of fear. Just a month ago, large-cap indices were at all-time highs, and the S&P likewise. Things move fast in hockey and on the stock market.
For a value investor, these times of uncertainty tend to present a number of opportunities. Extreme fear and extreme greed are difficult to sense and resist in the moment, but with a historical perspective to relate to and a view that zooms out, we believe we have begun our journey at an interesting time. We have a fondness for businesses with sound underlying business logic that perform well across a business cycle. Patience and balanced risk-taking are what we are applying now in our processes, but also the ability to act quickly and step into situations that demand action and swift efforts to strengthen the liquidity and resilience of the companies that need it.
We look forward to 2026 and welcome anyone in need of a strong partner to reach out to us to discuss how we can help create good outcomes.
SISU Equity Partners, March 2026