Investment Discipline


cropped-D-2.png Our method is based upon an investment discipline called “Value Investing”;

cropped-D-2.png We aim to identify securities being offered in the market below their intrinsic value;

cropped-D-2.png  Contrarian approach supported by a strategic long-term perspective;

cropped-D-2.png “Every crisis brings an opportunity”: over pricing of risks by investors offers value investment opportunities;

cropped-D-2.png High degree of patience and ability to wait;

cropped-D-2.png We believe in concentrated, low turnover, low cost portfolios backed by fundamental analysis;

cropped-D-2.png Under certain market conditions evaluate tail/macro hedging.





1 Risk Analysis

cropped-D-2.png Economic-Political framework;

cropped-D-2.png Country & Credit profile;

cropped-D-2.png Market, Liquidity, Interest Rate and Currency Risks;

cropped-D-2.png Leadership and Management (Key Man Risk).


1 Security Selection

cropped-D-2.png Clear definition of circle of competence;

cropped-D-2.png Contrarian Approach;

cropped-D-2.pngFundamental Security Analysis;

cropped-D-2.png Securities trading below intrinsic value.


1 Portfolio Construction

cropped-D-2.png Long-Term perspective, not trading oriented;

cropped-D-2.png Low Turnover;

cropped-D-2.png 25-40 investments;

cropped-D-2.png Tail & Macro Risk hedging.