Mountain Lake CIO Discusses Long-Term Equity Strategy
Ryan Nauman hosts the Inside SMAs Podcast and interviews Mitch Cantor, founder and chief investment officer of Mountain Lake Investment Management, about the firm’s people, structure, and Mountain Lake equity strategy. Cantor reviews his background at Sanford Bernstein, Goldman Sachs Asset Management, and Weiss, Peck & Greer and explains why he founded Mountain Lake Investment Management in 2001 to align the firm’s time horizon with long-term investing. He describes the two-person investment team with partner Patricia Coronado, their fully in-house research, and a concentrated, unconstrained portfolio typically holding about 30 names with the top 10 making up about half the portfolio. Cantor outlines a philosophy focused on capital preservation and inflation protection through equities, emphasizing business quality, management quality, and attractive entry price, with periodic cash and physical gold holdings when opportunities are scarce.
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Learn more about Mountain Lake Investment Management here.
00:00 Welcome to Inside SMAs
01:31 Meet Mitch Cantor
04:14 Why Start Mountain Lake Investment Management
05:56 Firm Structure and Growth
10:20 Research Driven Investing
11:59 Three Part Philosophy
16:27 Concentration and No Benchmark
21:30 Finding Market Opportunities
24:29 Performance and Value Tilt
28:49 Risk Control Cash and Gold
36:11 Energy Bets Explained
38:11 Where to Learn More
39:42 Closing Thoughts