Joshua Tree Capital Management is grounded in a simple observation: human behavior is remarkably consistent in markets. Herding, loss aversion, anchoring, and overreaction leave readable footprints in price that persist long enough to be captured by a patient, rules-based system.

The firm’s thinking draws on behavioral finance and psychology as much as on quantitative method. What people do under uncertainty is studied, measured, and written into the program before any trade is taken. The work of the firm is not to predict what comes next, but to respond to what the data already shows.