The cornerstone of Thornmark's investment process is our Value-Shift™ investment philosophy. The philosophy is predicated on two principles: first, as an economic cycle unfolds, there is a direct correlation between investment style and investment return; and second, there is no one style that outperforms all others over an entire cycle.

While the Value-Shift™ investment philosophy has a value style bias – selecting investments that trade below their intrinsic value – the philosophy’s flexibility allows for shifts to include growth and momentum styles throughout the progression of an economic cycle. Trading opportunities are exploited at any point in the cycle.