Market Insights

The underappreciated concentration risks of indices

Passive investors are being seduced into exposing their portfolios to unappreciated levels of concentration, while neglecting a range of undervalued equities as they chase benchmarks. While performance has been good over the short-term, things are about to get much harder.

The Value vs Growth Debate

Why value has underperformed? We get back to fundamentals around how the discipline works when applied from a fundamental, bottom-up perspective and why it still has a place in portfolios.

Value investing isn’t dead, it’s just sleeping

Adrian Warner shares his insights on the value versus growth debate. Here, he highlights the importance of looking beyond simplistic measures of backward accounting and to focus on the fundamental drivers of long-term, cash-flow driven value, or intrinsic value.

Could Apple be a casualty in the Trump-WeChat tussle?

On Friday, 6th August, President Trump issued two executive orders banning U.S. transactions[1] from WeChat, the Chinese ‘uber’ app owned by Chinese technology giant, Tencent, and TikTok, the viral streaming app owned by Chinese company, ByteDance. My daughters were much more concerned about the ban on TikTok, and I have first-hand evidence, in my own […]

Snow Place Like Home

COVID-19 has heightened the short-term focus of markets, creating opportunities to buy high-quality companies at discounts, which we call Undervalued Franchises. An Undervalued Franchise is a high-quality company with a deep and enduring competitive moat and a long runway of growth that is not being fully appreciated, and thus, not fully valued by the market. […]