Scott Davies, Founder and CIO of CDAM, details his interesting investment approach, which involves a concentrated portfolio and a hedge overlay to capture mispricing, with a relatively long hold period to catch cycles. Eschewing traditional revenue models, CDAM is focused on what CEOs are doing with the money they invest with them because misunderstanding the cost of capital leads to misallocation and value destruction. Filmed on May 23, 2017, in London.