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Welcome What follows is a brief explanation of the genesis of Seabreeze Partners and a summary of our basic investment tenets. On January 1, 2005 we consolidated several investment partnerships and formed Seabreeze Partners Short LP - a dedicated domestic short fund. In June, 2006 we launched our offshore Partnership. Through independent analysis, Seabreeze develops a variant (and negative) view of a company or industry's prospects, its business model and/or a company's quality of earnings. In seeking a view which differs from the market's prevailing bias - logic of argument, power of analytical dissection and the rejection of convention and orthodoxy form the basis upon which we select our short vehicles. We are conservative short sellers. Seabreeze maintains a diversified short book and does not employ leverage. Rarely will an individual equity position exceed two percent of our Partnership's assets. We avoid illiquid and heavily shorted stocks and our Partnership's short positions typically include larger sized companies (our average short position's equity capitalization usually exceeds $7.5 billion). The cornerstone of Seabreeze's approach is the selection of secular investment shorts. However, depending on market conditions, we also will adopt a short term trading style that isolates fundamental catalysts that have a briefer duration that might be customarily seen in other short Partnerships. For a further discussion of short selling and a more detailed explanation of Seabreeze's strategy please click on this link.Douglas A. Kass |
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