Investment Team Philosophy
- We primarily focus on the long-term. We don’t worry about nearterm market moves representing market ‘noise’ that we have no control over.
- Markets appear much the same today as they were 50 years ago when we extend time horizons out to the long-term.
- Large market movements are mostly driven by discernible longterm trends usually generated by imbalances in supply and demand that persist for 3 months to many years.
- Shorter-term market movements typically do not alter the longterm trends.
- A controlled amount of volatility is necessary to generate returns, but we are careful to limit drawdowns.
- Investing is more art than science. We believe a deep understanding of human psychology, combined with historical analysis and economic analysis, is the correct approach to generating consistent, risk-adjusted returns in both US and global markets.
Meet the Investment Team Leaders
David Johnson, CEO
David is the CEO of the GCM Fund, and President of Global Capital Group LLC, a GIB clearing through ADM Investor Services. Prior to establishing Global Capital Group in 2010, David was CEO of a CTA firm, trading energy futures at the NYMEX and foreign currencies in the interbank FX market. He held various engineering and management positions at NASA and Honeywell Space Systems over a 25-year period, including key positions on the Space Shuttle and International Space Station programs and numerous smaller satellite and launch vehicle projects. Awards earned included Outstanding Engineer Award from Honeywell, the Space Shuttle Award from NASA and a special letter of commendation from the Associate Administrator of NASA for innovative solutions on the Space Station program. David earned a BS in Computer Engineering from the University of South Florida and a Masters in Engineering Management. Licenses held: Series 3, 30 & 65.
Asim Ghaffer, Chief Investment Officer, Founder, AG Capital
With a comprehensive background in economics, strategy, investment consulting, futures trading and risk management, Asim founded AG Capital in 2014. AG Capital was incubated while Asim worked at Cambridge Associates, one of the world’s leading investment consulting firms. He advised institutions, including foundations, universities, private clients and insurance groups, ranging in size from $100M to $20B. Asim launched AG Capital with a deep understanding of how to build a scalable, institutional business. AG Capital’s Discretionary Global Macro investment program is currently offered to institutional investors through AG Capital at a $5M minimum. Asim was also a strategy consultant at Bain & Company, and he started his career as a business consulting analyst at Charles River Associates, Inc. He earned a BS in Economics, Summa Cum Laude, from Dartmouth College, and he earned an MBA from MIT’s Sloan School of Management.
Brian Swan, Equities Analyst
Brian has a background in fixed income trading and portfolio analysis. Prior to joining AG Capital, he worked in private wealth management at JP Morgan where he focused on trading corporate debt for institutional clients in addition to developing investment strategies for retail clients. He began his career at Bond & Pecaro, a boutique consulting group in Washington DC, focusing on financial consulting through valuation audits for M&A deals between major media conglomerates. Brian earned a BS in Finance with a Minor in Chemistry from American University.