Murray Stahl serves as Chief Executive Officer, Chairman of the Board, and Chief Investment Officer at Horizon Kinetics Asset Management LLC, which he co-founded in 1994. With over 40 years of investing experience, Stahl previously spent 16 years at Bankers Trust Company as a senior portfolio manager and research analyst. He oversees the Firm's Investment Committee making portfolio decisions and serves on the boards of Texas Pacific Land Corporation and Miami International Holdings. The firm employs over 70 professionals with average industry tenure of 20+ years and average firm tenure of 12+ years, demonstrating exceptional stability and experience in investment management.

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Horizon Kinetics is committed to long-horizon, value driven investing and building long-term, continuous relationships with clients. They rely on their own independent research, with written research and its discipline being the cornerstone of their investment process. They are contrarian (fact-based) investors, with their vision typically opposite the movement of the crowd. The firm believes that temporary price variability – 'quotational' risk – is not synonymous with capital risk, and that returns can be increased by extension of the investment horizon rather than by extension of risk. They focus on companies and instruments whose financial results and returns will be specific to their own circumstances – idiosyncratic, in industry jargon – rather than tied to the systemic variables that govern the major stock market indexes. The firm seeks to exploit the resulting long-term pricing anomalies and unique opportunities in order to generate above average returns with less valuation risk.

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