We invest in persistent growth — growth that sustains at higher rates for longer than the market expects.

 

To successfully invest in persistent growth, we must profit from where the world is going. It depends on the paradox of change and consistency. Change sparks a new opportunity; consistency enables a change to take hold.

By its nature, persistent growth demands investor patience. Persistent growth investments can be worth owning for years, even decades. Patience paired with persistence yields superior performance.

Investing in Persistent Growth

Markets occasionally misprice persistent growth opportunities, and that is the essence of great growth investing. Apple and Amazon are examples of the power of persistent growth. Shares of AAPL and AMZN are up 10x since 2012. The S&P 500 is…
3-Minute Read
Doug Clinton

The Cone of Expectations

For fundamental investors, stock prices represent a demand of future business performance. Those future demands can be demonstrated in reverse DCFs where you solve to a price rather than project an outcome on your own estimates. The same thing can…
6-Minute Read
Doug Clinton

The Power of Conviction

“I am a dynamic figure, often seen scaling walls and crushing ice. I have been known to remodel train stations on my lunch breaks, making them more efficient in the area of heat retention. I translate ethnic slurs for Cuban…
6-Minute Read
Doug Clinton

Everything I’ve Learned About Venture in 500 Words

We recently announced that Mike Olson has joined Deepwater to help build our next venture fund. I wrote a short memo to him sharing lessons learned from our first venture fund as we embark on Deepwater Venture Fund II. Bezos wrote, “Given…
3-Minute Read
Doug Clinton

The Art of Idea Generation

What do writers, painters, musicians, and investors have in common? Each lives and dies on the value of their ideas. Inspiration for the next stanza, the next stroke, the next lyric can be painstakingly difficult to come by. Similarly, the…
3-Minute Read
Doug Clinton

What Makes Deepwater Different?

The best way to answer how we should be different from other growth investors is by posing another question: What makes a bad growth investor? Before we worry about being different, we should worry about avoiding the common mistakes that…
4-Minute Read
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We manage equity investment funds across the growth spectrum in public and private markets.

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