Much has been made over the past 15 months about the impact of rising rates. Rising interest rates portend an ominous environment for the holders of existing assets, particularly those asset holders that acquired (and therefore priced) investments during a period when interest rates were very low. As interest rates…

In this article we’ll explore the “Sticky Situation” we find ourselves in financially and economically. Decades of easy money met the COVID crisis, knocking the US and global economy off its goldilocks relationship with low interest rates, low inflation, and low growth. The response to the COVID driven crisis created…

I’m going to make a controversial statement — printing money doesn’t cause inflation — they gasp in horror! Though the books, economics classes, inflation theory, and even the Maestro’s autobiography say differently, I’m looking out at the world as a practitioner and seeing something different. Yes, this is the same…

They say, “imitation is the sincerest form of flattery that mediocrity can pay to greatness”. Perhaps we can alter the phrase to say “[adaptation] is the sincerest form of flattery…” as I’d like to mold a well-known talk Charlie Munger gave on July 20, 1996. In it, Charlie posed the…

At HHC, we believe that the likely return on invested capital for a business over the next 5–10 years should drive the type of transaction we engage in rather than arrive to the scene with a prescriptive approach. We recognize this defies industry convention — particularly within the private equity…

If you asked a group of business school professors to define “risk”, they would dutifully reply, “beta”. Define “beta”, you may respond. “Well, it is the expected volatility of an asset relative to a collection of other assets (benchmark)”, they will describe. If a benchmark of assets possesses a beta…

One can trace the roots of capitalism through family business. Since 718, the same family has operated the Hoshi Ryokan, a Japanese inn. The Antinori family produces wine in Tuscany, where they began laboring in 1385. In America, the Vanderbilts, Rockefellers, Fords, Waltons, Lauders, Mellons, and others built great businesses…

My name is Eric Rosen and I am the founder of Hudson Hill Capital. My goal in founding the firm is to create something new, differentiated, and informed by my 30+ year career in private equity. Our plan is to use this forum to share our approach to investing and…