Reasonably priced and growing

HIT Capital looks for businesses that are both reasonably priced and growing. Those two words are doing a lot of work.

Reasonably priced does not mean the lowest multiple in a screen. A stock at 2x EV/EBITDA can still be expensive if earnings are about to disappear, net debt is misstated, or the accounting is not comparable across countries. Growing does not mean a story deck. It means units, cash, or a mix of value and quality-momentum evidence that the business is not a melting ice cube.

The fund’s universe is mostly companies with market values under $500 million, listed around the world. That is a noisy neighborhood: thin research coverage, lumpy filings, and plenty of value traps. The job is to spend more hours than the market average on the names that survive a first cut, then size positions with humility.

This note is process, not a recommendation and not an offer of fund interests. If you want the private materials, request access.