Woodlock aims to provide superior risk-adjusted returns for its investors. The core principles of the firm are summed up by the acronym CODE.
C is for cheap – We seek to acquire stakes in publicly traded businesses at significant discounts to what an informed buyer would pay for the whole firm.
O is for owners – We invest with people who have skin in the game through significant insider ownership and/or incentives aligned with shareholders.
D is for disclosures – We invest in businesses with clean public disclosures and understandable economics.
E is for excellent financial condition – We avoid balance sheet risk and look for businesses that are self-funding and/or use modest financial leverage or none at all.