APPROACH

• Value investing is a principle of buying assets that are priced below what their business fundamentals indicate. This approach to investing is founded on the belief that assets tend to be mispriced by the market, as investors react irrationally and emotionally to what they see and hear. We believe this is the most effective investment style for the long run.
• Thumb Capital's strategy is to identify and invest in opportunities with riight industry, right management, right price. Our management team leverages prior investment experience, industry expertise and an extensive global network to successfully implement this strategy.
• Thumb Capital's team are business analysts first and foremost, spending much of their time visiting companies, meeting with their management face-to-face, and talking to their customers and suppliers in order to ensure each of our investment decisions is well informed.
• Thumb Capital and its affiliates have particular expertise in the retail and consumer sector and consistently evaluate new opportunities for successful investments in this industry.
• In order to preserve capital and maximize value, Thumb Capital believes that factoring in the downside of an investment is equally as important as the upside potential. This philosophy has helped the firm weather various global economic cycles.
• Thumb Capital operates as a true partnership with strong meritocracy, and therefore there is significant alignment of interests among Thumb Capital's team members.