While the top 5 mega tech companies are fantastic businesses, Adrian Warner suggests better opportunities lie elsewhere and investors should keep hunting.
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.
Adrian Warner discusses the 4 key narratives around the underperformance of value stocks compared to growth stocks.
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.
Curtis Cifuentes outlines our investment thesis for Sony, our stock pick for the Future Generation Virtual Investment Forum.
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.
The broad market indices are providing ever increasing concentration and valuation risk
On Friday, 6th August, President Trump issued two executive orders banning U.S. transactions 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 […]
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. […]
In this episode of The Zurich Project Podcast, Adrian Warner discusses how Avenir Capital applies private equity principles to investing in the public market and Avenir’s five investment models (sign up required).