Intense focus is the key quality at the heart of every great business leader, including Sam Walton, Henry Ford, Steve Jobs, Warren Buffett and Bill Gates.
Few attributes are more valuable on Wall Street than levelheadedness and conviction. BlackBird’s spectacular record is largely a result of our ability to resist groupthink.
BlackBird was designed with the conservative, long-term investor in mind. Our first priority is always to protect the capital that our clients have worked so hard to amass.
BlackBird Financial LP was founded in 2014. We follow a Grahamian (value-oriented) approach to investing in public equities. We analyze businesses as if we were buying the entire company and couldn’t sell it for at least 10 years. Our mission is to generate world-class investment returns over the long term. We take inspiration from our namesake, the SR-71 BlackBird, which flew for the US Air Force from 1964 until its retirement in 1989. During its active life, it set dozens of speed and altitude records that have never been broken.
While past performance may not indicate future results, we believe it has utility in conjunction with a thorough analysis of our strategy and our team.
2022 brought widespread market declines and significant economic and geopolitical headwinds. Through it all, BlackBird meaningfully outperformed the market and the vast majority of competing funds.
Our FactSheet provides prospective partners with a quick snapshot of what we have to offer.
The Private Placement Memorandum provides detailed information about BlackBird Financial LP. Attached, you will the paperwork necessary to become a Limited Partner, including our Subscription Agreement, a W-9 and Wiring Instructions. We strongly recommend investors review this document before committing capital to our Investment Partnership.
Upon occasion we find opportunities that are particularly attractive. At such moments, we notify clients so they can partake to the greatest extent feasible.
While the market declined more than 20% during the first half of 2022, BlackBird outperformed by nearly 15%. This is a reflection of the conservative approach inherent in our DNA.
In 2022, we added only one new name to our investment portfolio, demonstrating yet again that in the field of investment, less is more.
As we know, taxes play a meaningful role in the success of an investment program. In this letter, we discuss this topic in greater detail and provide some insight into our tax mitigation strategies (or lack thereof).
2020 was a tale of two years. It brought both enormous destruction and major advancement. Within the chaos, we followed our strategy to achieve extraordinary results for our Limited Partners.
Before we can find great investments, we must understand what makes a wonderful business wonderful.
At the start of one of the greatest crises our country has ever faced, markets were plummeting with no end in sight. The panic was palpable on Wall Street and across the business community in the United States. Under those circumstances, BlackBird found several fantastic investment opportunities, and in this letter we urged our Limited Partners to invest any excess capital they had available.
At BlackBird, our interests are truly aligned with those of our limited partners. Every member of our team has a meaningful portion of their net worth invested in the fund. This obsession with keeping our interests aligned with our clients is deeply embedded in BlackBird’s DNA, and we believe it has played a crucial role in our fund’s success.