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TIDEFALL CAPITAL MANAGEMENT


NO MANAGEMENT FEE
NO CLOSET INDEXING


JUST INVESTING


ABOUT

Welcome to Tidefall Capital Management

 

Tidefall is a concentrated, unconstrained investment fund manager that attempts
to compound its capital at an attractive rate of return by focusing exclusively
on our best ideas.

 

We employ a value based investment framework where we buy securities that we
believe are trading for less than their intrinsic value and sell when this
discount has closed. 

 

Unlike traditional hedge funds with a 2% management fee and 20% incentive fee,
Tidefall uses the original Warren Buffett partnership 0/6/25 fee model, meaning
we charge zero management fee.

 

Tidefall only takes an incentive fee and only if you make more than 6% per year.
When your return is over 6%, we take one quarter of the excess. For example, to
be charged a 1% fee, your investment has to earn 10% for the year, before fees.

 

The market rarely offers compelling investment opportunities, so when we find
one, we may make it a significant position size. This level of concentration
will lead to volatility and periods of underperformance.


It is important to note that we do not measure risk by volatility but rather by
the likelihood of capital impairment. Volatility is acceptable; impairing our
capital is not.

 

Potential clients need to share our long term time horizon, otherwise Tidefall
is not the right choice.



If you are an accredited investor and interested, we would like to hear from
you.

 

Thank you,

 

Trevor Scott




PERFORMANCE

Past performance should not be mistaken for and should not be construed as an
indicator of future performance and there is no assurance that the investment
objectives of the Fund will be achieved. An investment in the Fund involves a
high degree of risk.


PEOPLE


LETTERS



TREVOR SCOTT, CFA
PORTFOLIO MANAGER

Trevor previously worked as an Investment Analyst at Peters MacGregor Capital
Management focusing on global equities. Trevor graduated from Bishop's
University with a BBA and is a CFA charterholder. Outside of work, Trevor enjoys
volleyball, basketball, skiing and running (and is determined to get a sub 20
minute 5km and sub 50 minute 10km race time and is putting this online to keep
himself accountable). He may have also been in an 80s metal band in his early
20s but is 99% sure all of that media has been successfully scrubbed off the
internet. 

JASON KUAN, CFA
CHIEF COMPLIANCE OFFICER & PARTNER RELATIONS

Jason previously worked as an Analyst with 1832 Asset Management L.P. (a
division of the Bank of Nova Scotia) focusing on securities valuations and
portfolio optimization. Jason graduated from The University of Guelph with a
Bachelor's Degree, Management Economics in Industry & Finance and is a CFA
charterholder. Outside of work, Jason is into volleyball and biking (road and
now a winter Peloton rider too) and seems to proudly find a great deal at Costco
multiple times a week. 

Partner letters are released publicly with a one quarter delay. Partners also
receive a quarterly video discussing the stock market, portfolio holdings and
any new investments. 



2024

Q1



2023

Q1   Q2   Q3   Q4



2022

Q1   Q2   Q3   Q4 



2021

Q1   Q2   Q3   Q4



2020

Q1   Q2   Q3   Q4



Quarterly letter sign up








MEDIA

Muddy Waters Short Report Rebuttal (2024 BNN Bloomberg)



British American Tobacco Opportunity (2024 Globe & Mail)



Why The TSX Will Outperform (2023 Globe & Mail)



Fairfax Shares Merit Consideration (2022 Globe & Mail) 



Canadians Find Other Ways to Grow Wealth (2022 BNN Bloomberg)



What’s The Secret Behind This Manager’s Sky High Returns (2020 Globe & Mail)










CONTACT

If you are an accredited Canadian investor, please contact us for more
information. 



info@tidefallcapital.com















© 2020 Tidefall Capital Management



This document is intended for informational purposes and should not be construed
as an offering or the solicitation of an offer to purchase an interest in
Tidefall Capital Management LP (the “Fund”). Past performance should not be
mistaken for and should not be construed as an indicator of future performance
and there is no assurance that the investment objectives of the Fund will be
achieved. An investment in the Fund involves a high degree of risk. The
information contained in this document is not, and should not be construed as,
legal, accounting, investment or tax advice. The contents of this document are
based upon sources of information believed to be reliable but no warranty or
representation, expressed or implied, is given as to their accuracy or
completeness. All opinions and estimates contained in this report constitute the
Manager’s judgment as of the date of this report, are subject to change without
notice and are provided in good faith but without legal responsibility. The
Manager asserts that the reader is solely liable for their interpretation and
use of any information contained in this document.


ACCREDITED INVESTOR CONFIRMATION

 

Access to certain materials on this site is restricted to “Accredited Investors”
and other persons to whom securities may be distributed without a prospectus. By
proceeding below you are certifying that you (1) are a resident of Canada, and
(2) satisfy one or more of the Accredited Investor eligibility requirements
relating to annual income or net worth thresholds, professional experience, or
other regulatory qualifications, as outlined in National Instrument 45-106
Prospectus Exemptions.

YES, I AGREE
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