Patient Capital Management

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Patient Capital Management

Patient Capital Management

@PatientCM

Our contrarian, opportunistic approach looks beyond traditional value metrics to generate alpha through Time, not Timing.

Baltimore, MD 参加日 Şubat 2023
40 フォロー中1.2K フォロワー
Patient Capital Management
Patient Capital Management@PatientCM·
Q1 2026: Iran War, Oil Shock, and a Sharp Rotation Away from Last Year's Leaders. Markets don't move in straight lines. Q1 2026 was a reminder of exactly that. The S&P 500 fell -4.4%, declining -9.8% peak to trough, its 32nd correction greater than 5% since 2009. Energy stole the show, gaining 38.3%. 6 of 11 sectors posted positive returns. Financials lagged, falling -9.5%. Value outperformed Growth for the second consecutive quarter. Russell 1000 Value +2.1% vs. Russell 1000 Growth -9.8%. Gold +7.8%. Oil +76.6%. Bitcoin slid for the second consecutive quarter falling -22.2%. Details: patientcapitalmanagement.com/articles/1q26_…
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Patient Capital Management
Patient Capital Management@PatientCM·
SAVE THE DATE for our Q1 2026 Webinar! From dislocations in software to stress in private credit and rising geopolitical tension, market swings have been dramatic. In some areas, we believe those moves may be going too far. We’ll share where we’re leaning in and how we’re positioning for long-term alpha. Be sure to submit your questions for the Q&A when you register. Register here to join us: zoom.us/webinar/regist…
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Patient Capital Management
Patient Capital Management@PatientCM·
Historically, markets have rallied (+.75%) and oil prices have fallen (-6.10%) on the first day of a geopolitical attack, a reflection of the market's role as a forward-looking discounting mechanism. Looking further out, the data is even more encouraging. Most attacks have not historically caused prolonged market pain. Over a 1-year time horizon, markets and oil have been higher 75% of the time, with the S&P averaging a 12.5% return and oil 27.1% one year after an attack. The next few months may remain volatile and unpredictable, but long-term investors have historically been rewarded for staying the course.
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Patient Capital Management
Patient Capital Management@PatientCM·
As our Founder & CIO Sam notes below, the growing narrative around an AI spending “bubble” may be premature. Looking at prior transformational infrastructure buildouts puts today’s AI investment in perspective. AI spending is currently around ~1% of GDP — compared with peak railroad spending near ~6% and internet investment around ~4%. In our recent webinar, we unpack these insights and what they may mean for long-term positioning. Full webinar replay here: patientcapitalmanagement.com/articles/4q25_…
Samantha McLemore@SamanthaMcLemor

Every day brings new headlines about a massive “AI spending bubble.” Amazon planning ~$200B in CapEx. Alphabet near ~$180B. Roughly ~$700B in total AI-related investment expected this year (market estimates). The narrative: AI CAPEX = bubble. The spending numbers are large, to be sure. But does this spend indicate a peak? History suggests otherwise. At peak buildout: • Railroad CapEx reached~6% of GDP • Internet infrastructure hit ~4% of GDP • AI investment today sits at ~1% of GDP. In other words — if history is a guide, the AI investment cycle may still have meaningful room to run. #Aicapex #valuations #GDP #valueinvesting #aibubble

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Patient Capital Management
Patient Capital Management@PatientCM·
High valuation dispersion can be a constructive backdrop for disciplined stock selection. When dispersion rises, differences between price and intrinsic value become more visible and more investable. Periods like this tend to reward patience and selectivity. We explore this dynamic and other market developments in our quarterly webinar series. The latest recording is available here: patientcapitalmanagement.com/articles/4q25_… @SamanthaMcLemor @Christy_Malbon
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Patient Capital Management
Patient Capital Management@PatientCM·
Today is the day! 📈 🗓️ Join Samantha McLemore, CFA and Christina Siegel Malbon, CFA at 4:15pm ET for a live recap of Q4 2025. Following a year where the S&P 500 returned 17.7%, we'll break down how Patient Opportunity Equity Strategy achieved a 26.1% return by identifying opportunities the broader market missed. We will dive into where we see upside and how we are positioned going forward. Register here to join and submit your questions for the live Q&A: zoom.us/webinar/regist… Can't make it? Request a replay: elertfinancial.com/patient/LP/cc-… For additional information and full performance returns click here: patientcapitalmanagement.com/pdf/GIPS%20Com…
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Patient Capital Management
Patient Capital Management@PatientCM·
After a strong year for markets and a 26.1% gain in the Patient Opportunity Equity Strategy, Samantha McLemore’s final quarterly letter of 2025 explains how Patient Capital Management delivered outperformance. The result stands out in a year when 73% of equity mutual funds trailed their benchmarks. Read the full letter on our website: patientcapitalmanagement.com/articles/the_m… For additional information and full performance returns click here: patientcapitalmanagement.com/pdf/GIPS%20Com…
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Patient Capital Management
Patient Capital Management@PatientCM·
Another strong year with the market gaining 17.9%. This marks the 7th best three-year market return in history. Large caps and growth continued to lead, with Telecom and Information Technology posting the strongest sector gains. The Fed cut rates. Consumers kept spending, even as sentiment softened and unemployment edged higher. Heading into 2026, solid economic growth and resilient consumer spending provide a supportive backdrop, and elevated skepticism may ultimately leave room for markets to move higher. Details: patientcapitalmanagement.com/articles/4q25_…
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Patient Capital Management
Patient Capital Management@PatientCM·
Our Founder and CIO, @SamanthaMcLemor, joined @Ritholtz for a live Masters in Business conversation at the Phillips Collection. We’re grateful to Barry for the thoughtful discussion and to Bloomberg @business for the opportunity to connect with so many great people in such a remarkable setting.
Samantha McLemore@SamanthaMcLemor

Great time tonight with ⁦@Ritholtz⁩ talking investing and markets- thanks Barry and ⁦Bloomberg ⁦@business⁩ !

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Patient Capital Management
Patient Capital Management@PatientCM·
Reminder: tune in today at 4:15pm ET for our quarterly webinar! All-time highs and bubble mania have some debating the odds of a correction, but is it too soon to get conservative? Samantha McLemore, Founder and Portfolio Manager of Patient Capital, and Christina Malbon, Assistant Portfolio Manager will unpack this and more, including how we’re positioned going into the final quarter, where we’re finding opportunity amid headline-grabbing valuations, and a live Q&A session at the end. Register Here: zoom.us/webinar/regist… #PatientCapital #TimeNotTiming #Stocks #Markets #Value @SamanthaMcLemor @Christy_Malbon
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