Our Investment Philosophy
Our Philosophy
Disciplined, Rigorous
and Repeatable
Our meticulous investment process centres around a valuation-based philosophy.
We use a bottom-up research methodology to establish intrinsic value.
All opportunities are compared on a real-time ranking table. We use a proprietary momentum indicator to help size and time our entry and exit into the market.
Our positions are appropriately-sized through a disciplined risk management process.
“In the short run, the market is a voting machine, but in the long run it is a weighing machine.”
Ben Graham
Our bottom-up research process involves a detailed business analysis, normalising margins and ratings, frequent management interaction and continual assessment of the management team.
We establish intrinsic value based on fact, not sentiment. Having a longer-term investment horizon helps us uncover hidden value.
We maintain a real time ranking of all our shares under coverage.
The overriding principle of our risk management process is that excess returns are generated through many appropriately-sized independent positions, rather than a few large positions.
We are able to manage to any benchmark and risk tolerance.