An individual approach

Our view on the stock market is shaped by our belief in the economic cycle and macro economic factors such as government policies, regulation, money supply and interest rates. When we talk about the economic cycle, we are referring to a repetition of events in the stock market and in investor psychology, although investor psychology is typically a lagging indicator of events. When both the stock market and human psychology have gone full circle, the economic cycle is completed. The cycle has no set time period but we think of it in terms of one economic cycle per decade.

We switch between growth and value style investing depending on where we are in the economic cycle. More often than not we find ’value’ in the style of investing that is out of vogue so we could be labeled contrarian investors. However, we prefer not to attract such a label because we like to be free to invest where we think the best absolute returns can be achieved.

There is no closet indexation and we look at companies of all market capitalisations and in many countries around the world to find the best returns.

Feel free to read our Investment Strategy thoughts, which were published recently in Citywire.