About 14B
14B Capital Management LP ("14B") was established in January 2022 by Ilya Zaides.
Prior to that, the Parsec Funds were managed by Ilya under an affiliate management company.
Ilya served as the Chief Investment Officer overseeing the strategy since its inception in 2009.
Measuring success since January 2009
Valuation inefficiencies can occur when investors do not fully understand a company and the dynamics of its business and industry. In-depth research and sector expertise can help savvy investors uncover and profit from mispricing.
Investing in companies whose marketplace valuation indicates that the business has stalled or will significantly deteriorate in the future but that our research indicates will continue to grow their earnings at a relatively rapid rate for a sustained period, is unlikely to lose investors’ money in the long term.
Even in declining PE multiple markets, investments made in such mispriced companies with sustained earnings growth should eventually allow investors to recoup their investment and likely generate significant profits.
Conversely, companies whose marketplace valuations indicate that they will experience rapid and sustained business growth for a prolonged period but where our research indicates that their growth is unsustainable and likely to deteriorate significantly, are unlikely to generate a return for investors even in a rising market.
Investing in equities to generate alpha over the long-term, while also having limited correlation to the benchmark and avoiding the permanent loss of capital, can be better accomplished with a high conviction, Best Ideas stock portfolio rather than one that waters down returns by buying into less compelling companies.
The 14B Capital Culture
14B manages a high conviction, best ideas equities portfolio that looks to generate alpha over the long-term by focusing high quality businesses and/or assets, trading at material discounts to their intrinsic values.
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Working at 14B
We are always looking for exceptional talent to join our community. From undergraduates to experienced professionals, we look for individuals who are intellectually curious, passionate and share our mission and principles.