KG INVESTMENTS FUND

KG Funds was set up by Ilya and Ike to outperform the S&P 500. KG emphasizes research. They seek to understand the limited number of companies and securities they invest in, better than the market does. They want to grow their capital over the long-term and they avoid distractions from short-term fluctuations. Instead, they treat volatility as an opportunity to buy or sell their core positions at prices that they believe do not reflect intrinsic value. They seek out - and listen to - opposing ... viewpoints. They push each other to act rationally and make decisions on the basis of facts and not emotion or ego. Just as important, they recognize that the wrong incentives can misdirect any good team. A typical hedge fund manager is encouraged to take unwarranted risks because he can make multiple times more money through incentive fees than he can on the money he's invested in his own fund. This behavior is made worse by the fact that clients often subsidize the manager's losses.

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