About Caro-Kann Capital LLC | Portfolio Manager | Press and Media | Conferences | Videos | Podcasts | Contact Us

"Our investment philosophy is based on the principles of value investing"

"We focus our research efforts primarily on special situations and compounders"

Contact us to learn more about Caro-Kann Capital LLC

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About Caro-Kann Capital LLC

Caro-Kann Capital LLC (the “Firm”) is an exempt reporting advisor under the laws California. Caro-Kann Capital LLC was founded by Artem Fokin (the “Founder”) in late 2014. Our investment philosophy is based on the principles of value investing and we focus our research efforts primarily on special situations and compounders. Caro-Kann Capital is named after a chess defense that emphasizes building safety and defensible position before contemplating an offensive strategy.

Caro-Kann Capital’s core investment principles include:

  • (1) concentration when properly compensated
  • (2) risk is not equivalent to volatility
  • (3) non-economic selling can lead to attractive opportunities
  • (4) capital allocation is often underappreciated by the market
  • (5) incentives and insider ownership are paramount.

Portfolio Manager

Artem Fokin is the founder and portfolio manager of Caro-Kann Capital LLC.

Prior to founding Caro-Kann, he was a principal at Outrider Management LLC.

Before entering the investing industry, Artem was an attorney with Greenberg Traurig LLP in New York City. Artem’s substantial legal experience brings a greater ability to analyze complex corporate documentation accompanying extraordinary corporate events.

Artem earned an MBA from the Stanford GSB (Arjay Miller Scholar). Artem earned a Master of Laws degree from NYU School of Law (Newman Scholar) and a bachelor of law from the Higher School of Economics (Presidential Scholar) in Russia.

Artem is admitted to the practice of law in the State of New York and is a dual citizen of the United States and Russia.

Press and Media

January 24, 2018

SumZero announces that Artem Fokin’s investment thesis on TripAdvisor (ticker: TRIP) has won Top Stocks for 2018 Contest in the Mid/Large Cap category. Artem Fokin is the only buyside professional who has won this prestigious contest two years in a row.

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January 11, 2018

Barron’s covers Artem Fokin’s investment thesis on TripAdvisor and publishes an article “TripAdvisor Shares Could Double in Four Years”

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December 13, 2017

SumZero’s article “One Year Later - Winners of the Top Stocks of 2017 Contest” features Artem Fokin and his investment thesis on CommerceHub

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September 19, 2017

SumZero’s article “Top Hedge Fund Ideas That Outperform The Market” features Artem Fokin and his investment thesis on CommerceHub

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January 18, 2017

Business Insider writes about SumZero Top Stocks for 2017 Contest and features Artem Fokin and his investment thesis on CommerceHub

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January 18, 2017

SumZero announces that Artem Fokin’s investment thesis on CommerceHub (tickers: CHUBA and CHUBK) has won Top Stocks for 2017 Contest in the Small Cap category

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Conferences

July 2, 2018

Artem Fokin presented his Trupanion investment thesis as an instructor at MOI Global Wide Moat Investing Conference.

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January 11 – 12, 2018

Artem Fokin presented his TripAdvisor investment thesis as an instructor at MOI Global Best Ideas 2018 Conference.

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You can watch a presentation video here.

July 7 and 8, 2017

Artem Fokin presented his CommerceHub investment thesis as an instructor at MOI Global Wide Moat Investing Conference.

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You can watch a presentation video here.

The presentation transcript was published in July 2017 issue of Manual of Ideas and is available upon request.

Videos

June 2018 – Trupanion

Video of Artem Fokin’s Trupanion presentation at MOI Global Wide-Moat Investing Conference in June 2018:

https://moiglobal.com/artem-fokin-201806/

December 2017 – TripAdvisor

Video of Artem Fokin’s TripAdvisor presentation at MOI Global Best Ideas Conference in December 2017:

Download PDF

https://moiglobal.com/tripadvisor-201801-2/

June 2017 – CommerceHub

Video of Artem Fokin’s CommerceHub presentation at MOI Global Wide-Moat Investing Conference in June 2018:

Download PDF

Download Investment Memorandum

https://moiglobal.com/commercehub-2-201707/

Podcasts

The Zurich Project Podcast

Artem Fokin discusses platform businesses and his fascinating path as an investor, including growing up in Siberia and viewing bananas as a symbol of capitalism. Artem argues persuasively that true platform companies not only enjoy a wide moat due to network effects but that, in fact, their value proposition to customers also improves as they grow the user base.

Contact Us

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Disclaimer:

Caro-Kann Capital LLC (the “Firm”) will only offer investment advisory services to clients resident in states where the Firm is either registered as an investment advisor or exempt from such registration. This website and any materials presented herein (the “Site”) is not intended to provide any investment, financial, legal, regulatory, accounting, tax or similar advice, and nothing on this Site should be construed as a recommendation of, or an offer to sell or solicitation of an offer to buy, any particular security, strategy or investment product. An investment in any strategy involves a high degree of risk and there is always the possibility of loss, including the loss of principal. Nothing in this Site may be considered as an offer or solicitation to purchase or sell securities or other services.

Portions of the Site may be password-protected and may be accessed only by users who have been issued passwords by an authorized representative of the Firm. No one may obtain or attempt to obtain unauthorized access to such parts of the Site, or to any other protected materials or information, through any means not intentionally made available by the Firm for your specific use.

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