Who We Are

About Us

Our Story

Sipher Street was founded by two students at the London School of Economics with a shared conviction: that disciplined, research-driven investing can be learned by doing. What began as a conversation about markets grew into a fully operational student-run fund, managing a portfolio using real-time data and institutional-grade analysis.

Our Approach

Sipher Street employs a long/short equity strategy across global markets, built around three complementary pillars. Every position begins with a rigorous investment thesis, supported by financial modelling, competitive analysis, and a clearly defined risk/reward framework.

1

Quality Compounders

We identify businesses that can consistently reinvest cash flows at high incremental returns on capital over long periods. These companies generate exponential earnings growth through expanding reinvestment, rising productivity, or disciplined capital returns without needing an external catalyst or rerating to create value.

2

Event & Catalyst Driven

We target discrete, time-bounded corporate or market events such as M&A, spin-offs, restructurings, earnings inflections, and regulatory decisions that are expected to materially alter a company's valuation. These setups offer asymmetric, often market-agnostic payoffs driven by quantifiable probabilities and deep fundamental work.

3

Short Ideas

We take short positions where our proprietary research uncovers structural deterioration, over-earning, or misunderstood risks the market has yet to price in. Each short is anchored by a differentiated insight, whether a flawed business model, unsustainable unit economics, or an approaching negative catalyst, and framed with strict risk limits.

Our Process

Every position follows a rigorous six-stage pipeline from idea generation to active monitoring.

1
Sourcing
2
Screening
3
Deep Dive
4
Pitch
5
Execution
6
Monitoring
1
Sourcing
We generate ideas through macro thematic analysis, sector screening, industry conferences, earnings calls, and bottom-up observation. Our sourcing process spans U.S. and European markets to identify potential asymmetries.
2
Screening
Initial ideas are evaluated through a blend of qualitative and quantitative analysis. We assess competitive positioning, management quality, valuation multiples, and balance sheet strength to determine whether a company warrants deeper work.
3
Deep Dive
Surviving ideas receive full fundamental analysis including financial modelling, competitive positioning, unit economics, management assessment, and scenario analysis. We build proprietary models from the ground up.
4
Pitch
Every thesis is formally presented to the team with a written memo including target price, key catalysts, risks, and position sizing. The committee debates and stress-tests each idea before a vote.
5
Execution
Approved positions are sized according to conviction level and portfolio risk limits. Entry timing accounts for technical levels, liquidity, and prevailing market conditions to optimise execution quality.
6
Monitoring
Active positions are tracked through earnings updates, news flow, and evolving sector dynamics. We maintain ongoing thesis validity checks and adjust or exit positions when the framework changes.

Our Mission

We exist to bridge the gap between academic finance and real-world portfolio management. Our mission is to develop practical investment skills, produce high-quality equity research, and build a track record that demonstrates the power of fundamental analysis applied with conviction and discipline.

What We Value

Perspicacity

We cultivate sharp, penetrating insight into businesses and markets. Surface-level analysis is never sufficient; we seek to understand what others overlook and act where the crowd cannot.

Intellectual Rigour

We demand evidence-based reasoning and challenge every assumption before committing capital. Conclusions must be earned through analysis, not borrowed from consensus.

Conviction

When our research supports a thesis, we have the courage to act on it. We size positions with confidence and hold through volatility when the fundamentals remain intact.