Realogy Holdings Corp.

SAM uses a value-oriented, long-term, bottom-up stock selection process. Their research team appraises businesses by studying financial statements, regulatory information, trade publications, and other industry and corporate data, and by talking with corporate management, competitors, and suppliers. They use two methods for their appraisal: (1) they seek to assess the company’s liquidation value based on the current economic worth of corporate assets and liabilities; and (2) they seek to determine the company’s ongoing value based on its ability to generate free cash flow after required capital expenditures and working capital needs. In selecting investments they look for companies with strong business and good people.

Tremblant Capital Group employs a global long/short equity strategy that seeks to generate strong risk-adjusted returns. The firm conducts fundamental, bottom-up research analysis on both the business and financial models of publicly-traded companies as the basis of their strategy. Underlying this fundamental company analysis is Tremblant's conviction that the velocity and magnitude of certain secular changes and their significance to specific sectors or regions is often underappreciated by the marketplace. Approaching the investment landscape from this vantage point leads them to uncover investments with significant upside.For their long investments, Tremblant typically looks for high-quality companies with attractive valuations. The companies in their long book should exhibit most of the following characteristics: (1) positive industry trends and dynamics (2) a strong competitive position characterized by good market share, strong brand and barriers to entry (3) a high-quality management team that knows its business well, allocates capital wisely and operates with integrity (4) strong and growing free cash flow generation (5) increasing return on invested capital (ROIC) and high return on incremental invested capital (ROIIC) and (6) balance sheet transparency and quality of earnings/clean accounting.For their short investments, Tremblant typically looks for lower quality companies that may be casualties of secular decline. The companies in their short book should exhibit most of the following characteristics: (1) operate in an industry facing secular decline and strong headwinds (2) a weak competitive position characterized by declining market share, no pricing power, undifferentiated products and decaying brand (3) a weak management team with a poor track record of capital allocation (4) poor and deteriorating free cash flow (5) deteriorating return on invested capital (ROIC) and low return on incremental invested capital (ROIIC) and (6) accounting issues or lack of earnings transparency.

Prentice Capital Management pursues a fundamentally-driven, value-oriented research strategy in the US consumer/retail sector, managed in a public long/short equity only portfolio. The firm's investments include, but aren't limited to, companies in the following business segments: hard and soft goods, restaurants, beverages, consumer products, supermarkets, drugstores, footwear, apparel, food, leisure, gaming and lodging. Prentice Capital Management uses a bottom-up research process to create a fundamental understanding of companies and business segments of interest, but it also pays attention to general macro-economic and financial market conditions as additional points of reference in the construction of the portfolio.

Investor at Applied Intuition, Inc.

Co-Founder at Judy's Book, Inc.

President at Barrett Sotheby's International Realty