How often is Schooner’s investment committee reviewing the portfolio?
We officially spend every Monday doing a full review of every single name within the portfolio. We also review every name that potentially could be in the portfolio and ask why it is not. However the process is continuous and we are intimately tied to the market everyday, entrenched in it 24/7. I think the layout of our office is very telling to this end. If a client came to visit us at Schooner, they would see that we all work on one large desk, in one room with an open floor plan. There are no “cubes”, no private offices and no walls separating us. This allows for a continuous flow of ideas regarding our portfolio without someone having to pick up a phone or get up and walk down a hall to another office.
