KL&C – Our Story
Who is KL&C?
In my twenties, I had the good fortune to live in Texas while serving in the military. My favorite time was spent in Fort Worth, TX, aka: “Cowtown”! I fell in love with the bigger than life Texas spirit. Texas is a place of wide expanses and boundless optimism where anything is possible.
I discovered commodity trading while living in Fort Worth. My first trades were in Live Cattle and Pork Belly Contracts. Upon leaving military service, I moved to Chicago to seek my fortune in the commodity trading pits. I had a successful run as a commodity trader and, when I retired from the trading floors, I built a successful investment advisory business. I merged my advisory business with another company and then created what is now Kenilworth Land and Cattle Company.
Naming this venture Kenilworth Land and Cattle Company is my way of tipping my hat to Texas. It is a very unlikely name for a company headquartered in the posh northern suburbs of Chicago. It suggests rolling green pastures with peacefully grazing cattle beside a flowing stream and perhaps an oil well or two pumping away in the background.
All Hat, No Cattle!
With a wink and a grin, we have adopted the Texas saying, “All Hat, No Cattle”, as our unofficial motto but only in the most positive sense.
According to the Urban Dictionary, the phrase “All Hat, No Cattle” was originally used in reference to people imitating the fashion or style of cowboys. These people wore the hats, but had no experience on the ranch -- thus, all hat, no cattle.
It probably has its origins when Texas's traditional, agrarian, ranching economy was being tilted on its head by oilmen and an influx of outsiders who don't necessarily get Texas. These people may have owned ranches as part of a personal fortune but weren't ranchers in their blood.
What Does KL&C Do?
Kenilworth Land and Cattle Company is a closely held investment firm that invests in private equity opportunities and allocates to independent managers for its own portfolio. It functions similarly to a small ‘family office’.
I employ many of the same techniques I used as a successful commodity trader. We are long term investors. Long term is relative. In commodity trading it is a matter of months. We expect to hold the positions we choose to participate in for a number of years.
We live in wonderful times. We are surrounded by all sorts of developing and emerging opportunities. An old client of mine recently asked how we identify our investment ideas. If you simply follow the news with an open mind, potential opportunities will begin to jump out at you. The internet is a wonderful place to begin your research and, if interesting enough, provide you with the means to contact the individuals involved.
We invest in people. Try as we might, we cannot expect to become experts on everything. Therefore, at some point we must believe in the various people behind the projects with in which we choose to participate.
We view our investing like farming. We seek to plant seeds. We then nurture our seedlings and, at some point in the future, look forward to harvesting the fruits.
We seek to diversify our portfolio over several different types of projects to shield us from concentrated risk. This is only prudent since there are no guarantees of success and our investments typically can lack liquidity.