Our investment philosophy values change as a driver of opportunity, particularly the recurring entrepreneurial cycle of economic disruption and renewal.
Human nature is to expect results fast and thereby lose sight of the long game. Experience has taught us to be patient in seeking opportunity and to be wary of risk.
Through adopting a bias to value, on thorough industry research, we believe it is possible to profit reliably from structural change while managing the cyclical risk.
Investment success depends on recognising long-term opportunity and balancing this with market risk.
Our firm is inspired by the fine example of William Stanley Jevons (1835-1882) and the simple dictum:
Curiosity finds Opportunity.
Jevons is famous for his contributions to economics and the theory of marginal utility.
These eight principles guide our thinking.
Optimism – is the fuel that drives human achievement
Humility – is the protector of every successful investor
Competition – is our best friend and our greatest teacher
Persistence – drives success in all human endeavour
Perspective – is what helps us recognise our errors
Culture – is the glue that binds a team together
Simplicity – is the surest way to mitigate risk
Courage – is essential to have conviction
Fiduciary duty to clients guides our actions.