Throughout our history, we have based our investment philosophy around a single belief— that the key to consistent, long-term success is achieving an optimal balance between enhancing return and managing risk.
We believe that attaining this balance requires comprehensive knowledge of underlying companies and their capital structures. We therefore analyze a business as would a private buyer. By defining economic enterprise value, we are better positioned to assess the true risks and return potential of an issuer.
Once we define the value of a business, our investment team assesses the individual securities within its capital structure. We unite historical data and future projections with fundamental analysis, considering possible catalysts for price movement. Based on our capital structure evaluation, we seek to identify the best opportunities across specific security types (for example, determining the relative attractiveness of a company's corporate bond, convertible bond and common stock). We conduct this analysis within the parameters of multiple risk-reward scenarios.
We believe the rapidly evolving global markets call for an opportunistic approach. Accordingly, we are benchmark aware but not benchmark constrained. Many of our strategies blend security types, and benefit from a high degree of market-capitalization and geographic flexibility, where applicable.
Comprehensive Capital Structure Research
We believe in-depth capital structure analysis is essential for long-term investment success. Our research begins at the company level, and then progresses to the capital structure of the company. This approach provides our team with the perspective and knowledge required to effectively manage a range of strategies.
Biographies (years of experience)
Growth, Convertible & Fixed Income
- Jeff Scudieri, CFA (17 years)
- Jon Vacko, CFA (20 years)
- John P. Calamos, Jr. (27 years)
- Steve Klouda, CFA (18 years)
- John Hillenbrand, CPA (20 years)
- Jeffrey Miller (18 years)
- Ariel Fromer, CFA (8 years)
- Tammy Miller (18 years)
- Joseph Wysocki, CFA (11 years)
- Chris Hartman (15 years)