Risk Management

Portfolio risk is managed through diversification, position sizing, position structuring, and hedge overlays.  We focus on building a portfolio of idiosyncratic risks while minimizing correlation with traditional asset classes and emphasizing capital preservation.  Leverage is rarely used.  We utilize a number of tools, including stress tests and scenario analysis, to assess broader risk exposures and beta sensitivities.

A dedicated Chief Risk Officer operates independently and reports directly to the CIO.   Courage employs a comprehensive risk management approach that addresses portfolio, counterparty, compliance, and operational risks firm wide.

Courage Capital is a Registered Investment Advisor with the Securities Exchange Commission.  The cornerstone of our compliance program is the comprehensive Compliance Manual which includes detailed policies, procedures, and monitoring guidelines.   

Courage has made a significant investment in leading front-middle-and back-office technology platforms to support our experienced operations team.