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GAMCO Investors, Inc.
One Corporate Center,
Rye, NY 10580-1422
USA
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Comstock Funds |
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| Comstock's approach is wide-ranging, including
the analysis of specific equities, general stock market strategy, interest rates
and real estate as well as long-term macro-economic themes centering on the
interaction of inflation, debt, interest rates, economic growth and their effects
on the stock, bond, commodity and currency markets. |
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Investment Philosophy |
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Comstock’s approach is wide-ranging, including the analysis of specific
equities, general stock market strategy, interest rates and real estate
as well as long-term macro-economic themes centering on the interaction
of inflation, debt, interest rates, economic growth and their effects on
the stock, bond, commodity and currency markets. Comstock Partners started
implementing these strategies when they began managing the Dreyfus Capital
Value Fund (presently the Comstock Partners Capital Value Fund) in 1987
and launched the Comstock Partners Strategy Fund in 1988. Additionally,
the firm manages multiple private accounts and a hedge fund.
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Investment Style |
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Comstock Partners, Inc. analyzes economic and financial conditions from a long-term
macro-economic perspective and makes adjustments based on cyclical and shorter-term
considerations. In pursuit of its goals, the firm invests in various asset classes
including domestic and foreign stocks, bonds, currencies and derivatives including indices
and options. For the Capital Value Fund, Comstock Partners can buy or sell short and make
use of leverage in order to maximize returns under various market conditions. In effect,
we believe our operation resembles a modern-day hedge fund in its scope of activities.
For each of its asset classes, Comstock adheres to macro-economic themes while also
utilizing a disciplined investment philosophy that attempts to remove the emotional element
of investing by focusing on data that, in the past, has exhibited a correlation with an
asset’s future price movement. Such data may be fundamental or technical and includes
indicators relating to the economy, money and credit, valuation, price momentum and
investor sentiment. While each of these indicators may provide some degree of insight into
the future performance of a particular investment, Comstock believes that an appropriate
combination of these tools provides the highest probability of accurate market timing and
security selection. Investing, of course, inherently involves subjective judgements and
there can be no assurance that Comstock’s investment approach will prove successful.
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Investment History |
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Comstock Partners started implementing these strategies when they began managing
the Dreyfus Capital Value Fund (presently the
Comstock Partners Capital Value Fund)
in 1987 and launched the Comstock Partners
Strategy Fund in 1988. Additionally, the firm manages multiple private accounts
and a hedge fund.
The Fund's share price will fluctuate with changes in the market value of the Fund's
portfolio securities. Stocks are subject to market, economic and business risks that
cause their prices to fluctuate. When you sell Fund shares, they may be worth less
than what you paid for them. Consequently, you can lose money by investing in the Fund.
Investors should consider the investment objectives, risks, sales charges
and expense of the fund carefully before investing. The prospectus contains more
complete information about this and other matters. The prospectus should be
read carefully before investing.
You can obtain a free prospectus by calling Gabelli & Company, Inc. at 1-800-GABELLI
(1-800-422-3554), or contacting your financial representative or by visiting
http://www.gabelli.com.
Distributed by Gabelli & Company, Inc. One Corporate Center, Rye, NY 10580.
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