Global Deep Value ETN

Uncovering Hidden Value

Solid Investments for a Secure Future

Who we are?

Truffle Capital is a fund management company with a value investment philosophy and a distinctive focus on long-term asset management. Founded by a team with a decade of experience and a proven track record of outstanding returns, we manage the Global Deep Value (GDV) ETN, which collects the best investment ideas from our managers.

Mission

Our mission is to find and manage investment opportunities that others might overlook, comparing ourselves to the search for ‘truffles’ in the financial world.

Vision

At Truffle Capital, our vision is to lead the market with an alternative approach that challenges established norms, offering our clients an unexplored path to superior and sustainable returns.

Investing Principles

Owner Mentality

Our unique perspective sees stocks as direct business ownership, we are shareholders. This fundamental shift in perception guides our entire investment philosophy.

Bottom-up approach

Our focus on the business fundamentals of each company ensures a comprehensive understanding of the investment landscape, providing us with safety and confidence.

Long-term focus

We embrace short-term volatility and underperformance in exchange for long-term success (5-7 years on average of investment horizon).

Patience and Discipline

We wait for the right opportunity to present itself, even if it means holding significant cash as downside protection. This strategy allows us to capture future opportunities when the market corrects.

Independent Thinking

We form all our views independently; we know the crowd can be wrong, so we try to understand why it might be the case and take advantage.

We invest, we don’t speculate

We follow Benjamin Graham's definition from the Security Analysis book: "An investment operation is one which, upon thorough analysis, promises safety of principal and a satisfactory return. Operations not meeting these requirements are speculative." This principle shapes our risk management approach.

Volatility is opportunity, not risk

Periods of fear and uncertainty bring many opportunities to patient, disciplined, and long-term-focused investors.

Margin of Safety

We work to put the odds in our favor in each transaction we make, trying to obtain the most significant margin of safety possible so that if things don’t evolve as we plan, we limit the permanent loss of capital.

Cheap assets can become more affordable

We focus on the long-term fundamentals of each asset and try to buy them at a discount of what we define as Intrinsic Value. If a purchased asset collapses significantly in price and we consider the fundamentals are there, we will be aggressive. If it was cheap before, the rational course of action for us is to take advantage of this even better price and buy more!