A Brief History of Midway Capital
Midway Capital was founded in 2008 by Rachel Barnard, our portfolio manager and majority owner. Amid the proliferation of hedge funds, and the Wall Street voodoo that often passed for investing, Rachel wanted to create an environment where old-fashioned fundamental value investing could flourish.
Midway capital does all its own research and adheres to a strict investing philosophy. This focuses on buying securities for less than a conservative estimate of their intrinsic value and holding them for the long-term. We do not invest borrowed money or short securities. If there are no securities that meet our stringent criteria, we will hold cash. We believe that good research must be founded on a sound methodology, and that having the discipline to execute that methodology will result in superior investment results for our clients.
The "Midway" in Midway Capital refers to a green strip of park land called the Midway Plaisance that borders the Hyde Park neighborhood on the south side of Chicago. Today's Midway Plaisance is part of the Chicago park district and runs through the University of Chicago. But its origin dates to the World's Columbian Exposition of 1893 when the mile-long stretch was laid out as the center for amusements. After the fair, designer Frederick Law Olmsted included the Midway in his grand plan for Chicago parks. And though this plan has only been executed in part, the Midway remains a beautiful landscape and prominent feature of Chicago's south side.