The Pursuit of Asymmetry.

We founded Immanent Capital with a singular, focused mission: to find great investments. We are not dogmatic about how we find them, nor are we beholden to a specific style box. We do not classify ourselves strictly as "value" investors, "growth" investors, or "macro" traders. We are return investors.

By providing rigorous research, commentary, and differentiated investment ideas, Immanent Capital exists to elevate investment performance. We believe that in a market drowning in noise, the clearest signal often comes from simply asking better questions.

The Meaning of "Immanent"

The word immanent refers to something existing or operating within; inherent. In philosophy, it describes a reality that is present in the world, rather than transcending it. We chose this name because we believe that value is not something we project onto the market, but something we uncover within it.

The basis for outperformance are already present in the current market structure—hidden in plain sight due to misunderstood competitive dynamics, overlooked companies, emotional overreactions or an eroneous focus on short term catalysts. Our job is not to predict the future, but to clearly see the reality that is already here.

Payoff Over Prediction

Wall Street is obsessed with being "right." Analysts spend careers trying to predict whether margins will expand by 50 basis points or if market share will grow by 2%. While we respect the thesis, we recognize a fundamental truth: you can be right about the business and wrong about the stock.

We focus on asymmetry. This does not mean we claim to know the odds—because in complex adaptive systems, you never truly do. Instead, we look for scenarios where the cost of being wrong is acceptable, and the reward for being right is meaningful. It is not about whether your thesis is perfect; it is about whether you are capturing the return.