Kris Tuttle ran equity research at SoundView Technology Group until shortly before it was acquired by Charles Schwab in 2003. He then took over equity research at Adams Harkness & Hill in Boston until shortly before it was acquired by Canaccord Genuity in 2005. In April of 2005 Kris started his own research firm to do independent research on emerging technologies which was the predecessor to the formation of SoundView in 2011.
Stephen Waite managed multi-billion dollar portfolios invested in information and biotechnology in addition to being an equity and market strategist, author and adjunct professor. Steve’s background includes Morgan Stanley, The Capital Group, Merrill Lynch and BEA Associates. He met Kris in 2007 and a year later the two decided to join forces to offer more advisory and investment positioning services to emerging technology companies.
The appeal of applying our research assets and investing background to asset management has been strong since we started working together but conventional structures were inefficient and unfriendly for investors. Coincident with being able to acquire the SoundView trademarks in 2011 the asset management business was modernizing and creating new opportunities to offer best-of-breed services without the baggage of inferior infrastructure and outmoded ideas of what long-term investing is all about.
Our overall investment process and strategy is lengthy but here are some highlights:
- We invest in growth companies with technology elements as part of their business. This includes information technology, nanotechnology and biotechnology.
- Our investment horizon is measured in years, not months and quarters. There may be profits in short-term trading but wealth creation is only found over the long-term.
- Research is the cornerstone of our investment process. Our expertise helps us to evaluate market potential, product and service quality, company positioning, business model effectiveness, management and most important risks.
- All investments and weights are driven by our proprietary intrinsic value model which is derived from long-term financial projections and estimates. This model has proven to be the most effective single valuation method since we implemented it over a decade ago.
- Our portfolio is concentrated in a smaller group of companies that we know well and follow closely. The total number of positions will vary but be close to 20 total with sizes ranging from 3% to 9% of the portfolio.
We will post our full investment process on this site in April and include a link here so check back if you want more details.