The State of the Economy

We believe there is an opportunity today to bet against US corporate credit that meets the three key conditions we seek at BC-GUMPS when considering investments. This opportunity is the result of significant consensus building, which is a natural consequence of 30+ years of interest rate and volatility suppression. And when this trend eventually reverses, it will manifest in wider spreads, lower secular margins, and weakness in US corporations.

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The Uniform Accounting Platform

Current and former accounting standards like GAAP and all its cousins have failed to create a useful language for achieving investors’ goals. GAAP’s broken approach to accounting is the result of changing focus, changing goals, and a target of creating rules for rules’ sake, not for creating a useful end product. We tailor-built an approach and model at BC-GUMPS that systematically address these issues.

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The Credit Default Swap Solution

Faulty data, ineffective ratings agencies, yield-chasing, and recency bias in credit insurance markets makes for breakdown in valuations in Credit Default Swaps today. We have built a proprietary valuation methodology and a systematic approach to identify those names most affected by these issues.

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