Why Value Investing
Our Philosophy
We invest in well-capitalized businesses where the market rating of invested capital does not fully reflect the long-term productivity of that capital.
Our Process
Our quest for value assesses stocks for future earnings power, capital efficiency and the financial flexibility to cope with adversity.
Our Process
Our team of portfolio managers and research analysts bring deep experience and specialist knowledge to each step of our investment process.
Thoughts on Value Investing
Taking Stock – April 2019
In a difficult period for value investing we look at the factors driving market performance, and also highlight how a competitive advantage "moat" helps companies to repel rivals.
Taking Stock - January 2019
Following a turbulent year, we consider why investors continue to favor expensively-priced stocks and also note that value opportunities appear more prevalent in cyclical sectors.
Taking Stock - October 2018
Resisting the temptation to sell cheap stocks for strong-performing internet-related stocks should be rewarded over time. Also, 10 years on from Lehman, we look at bank valuations.