When it comes to the Registered Investment Advisors (RIAs) we work with at Goodwood Capital Management, we know that what’s behind the numbers matters as much—if not more—than the numbers themselves. To help our RIA investors with their qualitative due diligence, below is a short Q&A session based on frequently asked questions we receive during meetings.
Q&A with Goodwood’s President/Portfolio Manager, Ryan Thibodeaux
Q1. WHAT MAKES YOUR TEAM DIFFERENT AND UNIQUE?
A: One of the differentiators is our pedigree. Before launching Goodwood, Josh Pesses and I worked together at Maple Leaf Partners, a long short equity hedge fund seeded by Tiger Management’s founder Julian Robertson.
Goodwood focuses on small and mid-cap long short equity, which makes us truly a boutique money manager. There are only a handful of funds that invest in long short small-mid cap equity — we are in a niche asset class.
While we may be a “new firm,” we have seasoned veterans on our team. As partners and portfolio managers of Goodwood, Josh and I have worked together for more than a decade and have been investing long short for 15 years.
Q2. What makes your strategy different and unique?
A: While most long short equity strategies are focused on large cap stocks, Goodwood’s focus is on small and mid-cap. We run a concentrated portfolio of individual long and shorts, both of which are intended to generate alpha independently. This focus on alpha generation is different than many of our peers who primarily use the short book to hedge.
Q3. What is a mistake you have made while managing the strategy and what have you learned from it?
A: In 2014 and 2015, we underestimated the impact that non-fundamental factors can have on stock price returns. As a result, we learned from our mistake and incorporated more of these factors into our risk adjusted value process.
Interested in learning more about our long short small-mid cap strategy? Read our quarterly commentary.
ABOUT THE AUTHOR
Ryan Thibodeaux is President / Portfolio Manager of Goodwood Capital Management.
Ryan founded Goodwood Capital Management, LLC in March, 2012 and serves as a Portfolio Manager. Prior to starting Goodwood, Ryan was a Partner and Senior Equity Research Analyst with Maple Leaf Partners, LP. Maple Leaf Partners is a long short equity hedge fund started in New York by Dane Andreeff in 1996. In 2003, Julian Robertson’s Tiger Management seeded Maple Leaf and it became what is commonly referred to as a “Tiger Seed.” The firm eventually grew to over $2 billion in assets under management.
To read Ryan Thibodeaux's full bio or other Goodwood team members, click here.