Corona seeks to achieve superior risk-adjusted absolute returns through proprietary fundamental and technical analysis developed over a 40-year span.
We pursue a focused investment strategy across highly-liquid asset classes in developed and emerging markets, including equities, debt, precious metals, currencies, commodities and options. Corona’s core investment strategies include: Gold Assets, Value Investing, Contrarian Investing, Long/Short Equity & Debt, and Options.
Corona places a priority on preservation of capital with a core portion of the long portfolio dedicated to the Gold Asset sector. Risk management is employed through rigorous research and analysis and further enhanced through options hedging strategies.
We believe that gold presents the greatest investment leverage and the best investment insurance in a world where monetary policy has become unreliable and utimately unsustainable.
Inflated stock markets do not provide a safe harbor against a global debt bubble that has become even more perilous now that interest rates have spiked upwards. The further these interest rates climb, the more quickly our global debt structure will unravel, revealing the fictitious values of all fiat currencies versus gold. There is nothing in the arsenal of monetary and legislative policy makers to combat the next inevitable debt crisis.
Gold remains the best-positioned investment asset to capitalize on the unwinding of the combustible intersection of unconventional monetary policy, lofty financial asset valuations, and the conclusion of the debt super cycle.
The current stock market is firmly in the record books and completely unprecedented.
By any measure – whether by nominal levels of the Dow and S&P, by the number of years without a significant correction, or by measures of P/E ratios, dividend yields or low volatility – the current stock market is firmly in the record books and completely unprecedented.
This particular stock market advance really began in March of 2009 out of the ashes of Dow 6900 when the world faced and feared a complete financial system collapse. Such a collapse was already in motion when central banks stepped in to save the day. What happened next was a suspension in the natural forces of capitalism, and an incessant levitation of financial assets at the expense of yield-starved savers.
While this backdrop of artificially suppressed interest rates and profligate monetary liquidity has elevated many financial assets beyond any fundamental valuation metric, there remain certain sectors, assets and situational investment opportunities that offer compelling valuations. John Scurci has spent a 40 year career identifying unloved and overlooked assets that are mispriced, offer a margin of safety, and possess palpable catalysts for upward revaluation. John relentlessly scours global markets researching and evaluating these types of opportunities on behalf of investors in the Fund.
The most successful investors possess both a knack for independent thinking and the strength of conviction.
The ability to provide investors outsized returns often derives from seeing inflection points of cycle change, gathering risks percolating towards a climax, and the fortitude to invest away from the crowd.
John Scurci has spent an investment career studying market cycles and identifying when the currents of change are beginning to ebb in a different direction. It is this macro framework and knowledge of history that provides the foundation for John to seek out the best long and short opportunities, to successfully express this change in the investment landscape prior to the market herd’s awakening.
LONG/SHORT EQUITY & DEBT
The Antilles Capital Master Fund, LP has a broad investment mandate to seek out absolute returns across global markets and multiple asset classes.
As an experienced investor in multiple asset classes, John Scurci believes there are always mispriced assets somewhere in the world to be capitalized on, both in the long and the short side of the portfolio.
At any given time the Fund’s portfolio consists of long positions in global equities, currencies and commodities that the portfolio manager deems to be mispriced, offering good long term value, and short positions in sovereign credit, corporate credit, currencies and equities that he believes have compelling catalysts for downward repricing. It is through this meticulous diversified multi-asset portfolio construction on the long and short side that the Manager is able to generate risk-adjusted returns for investors.
Accretive risk-adjusted returns
The Fund Manager uses equity options (puts and calls) and other derivatives to hedge the portfolio, manage risk, concentrate asymmetric long and short bets in a measured manner, and generate accretive risk-adjusted returns for investors.