ABOUT
US
Eastlight Capital Management ("ELCM"), headquartered in New York, is an independent asset manager dedicated to investing in Asian equities with value principles. We deploy long-term capital to purchase listed companies, and utilize primary and independent fundamental research for the selection process.
ELCM was formed in 2016, absorbing an Asia focused value managed account run by Carlos Tseng, the founder of ELCM. That account was ranked #1 (December 2017) in FundSeeder's Leaderboard, an emerging manager discovery platform created by industry legend Jack D. Schwager, the author of Market Wizards.
Carlos has over 20 years of investment research and portfolio management experience with ZAN Partners, CIM Investment Management, and Coronation Capital in London, and with Bayes Capital Management in New York. He started his career as a sell side equity research analyst at Salomon Smith Barney (New York). Carlos holds an MIA from Columbia University and a BSBA from Boston University, and is a member of the CFA Society New York.
OUR STRATEGY
We seek exposure to the structural growth of Asia with a tried and true investment discipline: value.
Combining value and Asia
Value investing has made a distinguished contribution to the wealth creation and preservation in the Western developed markets since its founding fathers, Benjamin Graham and David Dodd, published Security Analysis, the research paper that galvanized the concept of value investing. Warren Buffett, Graham's most venerable student, advanced the investment discipline to worldwide fame.
Value continues to perform in the matured and crowded US market. But, what if we took this approach to the dynamic, fast paced economies of Asia that are prone to macroeconomic shocks, herd capital flows and sporadic short term bouts of volatility. This environment is a tremendous feeder of market inefficiencies, and value was perceived to precisely take advantage of the temperamental swings of Mr. Market. Every swing is an opportunity, rather than a measurement of risk. In fact, value investing was conceived after the US market crash of 1929, when Benjamin Graham thought to devise a more conservative approach to investing in the volatile "emerging" US market.
Value investing is not a developed vs emerging markets' strategy. Value is best suited for inefficient markets, where short term volatilities open a window to deploy long term capital for good businesses at attractive valuations, whilst the structural growth aids in the compounding effect.
OUR ADDRESS
Eastlight Capital Management
430 Park Avenue, 19th Floor
New York, NY 10022 USA
OUR EMAIL