Long/Short
Bank Capital Strategy
Our Team
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Senior Leadership
Justin D’Ercole, CFA
Founder, Managing Partner and CIO
Amy Hazelton
Co-Founder, Portfolio Manager
Barbara Mariniello
President, Chief Strategy Officer
Jon Rogers
Chief Operating Officer/CCO
Team Members
Ethan Boone
Associate
Gavin Smithson
Analyst
Media Appearances
A curated hub for all our video interviews, press features, articles, and media appearances, where you can hear directly from our leaders, explore the ideas shaping our industry, and gain a deeper understanding of our mission, values, and the impact we’re making.
Investor Letters
Investor Newsletter
Q3 2026
The market moves from one obsession to another. When we were launching it was crypto, now it’s AI. We focus on banks and they live at the center of all of this. Our Q3 letter covers our thoughts on bank releveraging and how to evaluate opportunities in bank capital given today’s spread environment.
Investor Newsletter
Q2 2026
It’s a “supply shock” world, and we are all just living in it. We consider the market unprepared for the roaring ‘20s PLUS inflation. A simple assessment of the FOMC policy rate – using a market friendly/dovish assumption Taylor Rule model(1) identifies current Fed policy as too easy by ~100bps.
Investor Newsletter
Q1 2026
Bubbles put people out of business on both sides of the summit – our industry is perpetuating the likelihood that this could happen again. This letter covers: (i) Q&A I wish I could ask past Fed Chairs/Treasury Secretaries, (ii) a review of bank credit and overall credit markets, and (iii) some simple conclusions.
Investor Newsletter
Q4 2025
What occurred this Summer and into the Fall was simply remarkable. Markets chased themselves in a circular spiral up. To us, at some point during Q3 it no longer resembled investing.
Contact Information
411 West Putnam Ave – Suite 330
Greenwich, CT, 06830, US
+1 (203) 742-8100
*AUM as of July, 2026. This figure is based on unaudited financial data and is subject to change.