Pedro Escudero began his career at Lehman Brothers, one of the most prestigious investment banks in the world. From day one he developed a passion for fundamental analysis and in-depth study of companies. He earned his MBA with honors from the prestigious Duke University, graduating Suma Cum Laude. An elite education that reinforced his analytical rigor and global vision of financial markets. The 2008 financial crisis became the greatest learning experience of his career. While others fled, Pedro identified extraordinary opportunities and reinforced his conviction in the long term. Years of studying the great masters — Buffett, Munger, Graham — and direct market experience crystallized into his own investment philosophy: concentration, quality and patience. Investing is not a sprint, but a marathon where discipline and intellectual independence make the difference. The market rewards those who have the patience to wait and the courage to act when no one else will. In 2017 he launched his own Hedge Fund, his first independent investment vehicle. From day one, returns and intellectual independence were the pillars of the project. While markets collapsed during COVID, the portfolio proved its resilience. The discipline and quality of the portfolio companies allowed not only to withstand, but to accelerate returns. Nine years later, Pedro has multiplied the initial capital more than fourfold, achieving a cumulative return of 17% annualized, establishing himself as a benchmark for value investing in Spain. With an extraordinary track record as his credential, he founded Silverway Asset Management. An independent asset manager with the ambition of offering discerning investors excellence in wealth management. We only invest in companies with durable competitive advantages, capable of generating sustainable cash flows in any environment. Thinking differently is uncomfortable, but necessary. Intellectual independence is an essential condition for achieving different results. We do not invest out of activity, but out of conviction. We would rather not invest than invest poorly.