Updated as of: 12/29/2025

Refund policy

• Your first annual payment is non-refundable—no exceptions.
• To avoid auto-renewal, my assistant will cancel your subscription after you sign-up. You'll retain access for one year from the payment date.
• There is a 7-day grace period for refunds for accidental renewals. If a refund is issued, it will be minus the non-refundable Stripe processing fee.
• If you have any payment-related issues, please contact us first so we can resolve them. Initiating a payment dispute will automatically result in immediate loss of access to the disputed product, even if the dispute is later resolved or reversed.
• Any individual who disputes a payment without contacting us first will be permanently banned from using any of our services.

Things to note about the primers

• I try my best to only include independent U.S. institutional investment firms, which means excluding:
  • Bank-owned asset management firms, like GS Asset Management (GSAM)
  • Profiles of PMs working at a multi-manager platform (unless they have founded their own firm)
  • U.S. subsidiaries of non-American firms (such as Vontobel)
  • Wealth managers, financial advisors, financial planners, etc.
• All firms described are more than $100 million AUM.
• AUM figures are regulatory figures as of 2/28/25 (unless specified otherwise), which include leverage if it’s a hedge fund.

What info about the funds does your primer contain?

• Investment style (value, growth, market-neutral, agnostic, event-driven, biotech, etc.)
• Year founded
• Founder / key person's name(s)
• Founder / key person’s (CIO, director of research) education (undergraduate and graduate degrees)
• Founder prior employers (so you understand their style lineage)
• If available, investment process, portfolio turnover, position sizing, risk management discipline, etc.
• Refer to the Boston primer to get a sense of depth of intel on each fund we cover

I do not receive a single dime from the covered firms.

What resources did you use to create these primers?

They are 100% based on public information. Fund Form ADV part 1/2, mutual fund prospectus / annual report, 13-F, founder press articles / podcast / video interview / TV appearance, and other publicly available resources.

For legal reasons, I do not comment on firm culture, ongoing legal proceedings (unless they are facts publicized by major presses), founder personality, etc.

How often do you plan to update the primers?

For now, I plan to refresh once a year. So the next fresh will be March 2026. If there are material launches / closures, I will update the corresponding primer in a timely manner and update my paid subscribers.

I only need one/two primers, do you sell by pieces?

No, because of operational complexity:

1. I can’t meet the infinite permutations of individual needs if sold piece-by-piece. For example, one person might want long-only funds in the Southeast and market-neutral funds in California, while another wants activist funds in California and energy funds in Texas.
2. I’d have to maintain and remember to update multiple versions of the same content as I continue refining my findings.

Do you plan to produce a primer for Europe?

Yes, but not a top priority.

Do you cover credit funds?

No, I do not. I do cover value-oriented equity funds that invest across the capital structure but not funds that mostly focus on credit.

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