Articles
-
2011 Annual Report commentary
In this month's investment view, we provide a summary of the fund's performance and a reminder of our long-term investment philosophy.
-
The paradox of debt
In this month's investment view, we discuss in detail the effects of the current low interest rates and quantitative easing (QE) programmes employed by western central banks.
-
The opportunity set continues to narrow
In this month's investment view, we provide a summary of what we see the current opportunity set to be.
-
More of the same
In this month's investment view, we provide an overview of our thoughts for the upcoming year.
-
Elephants can run
In this month's investment view we discuss our view on investment opportunities in small companies versus blue chips.
-
In Dr. Bernanke we trust
In this month's investment view, we discuss the effects on the global economy of the recent rounds of quantitative easing.
-
The right kind of growth
In this month's investment view, we discuss businesses that benefit from a combination of three factors of the ‘right kind of growth’. When all three align, shareholder value creation almost invariably follows.
-
What you see is usually what you get
In this month's investment view, with current inflation/deflation environment the focus for the markets, we show how growing, cash generative businesses that need little capital to produce that growth, tend to cope well in both inflationary and deflationary environments.
-
The accounting smokescreen
In this month's investment view, we explain how we view exceptional costs and adjusted earnings as something of a smokescreen – a way in which the true economic reality for companies are being obscured.
-
Rusting away in the yard
In this month's investment view, we discuss the view that asset-heavy businesses can only achieve growth by investing large amounts of capital, not something that is conducive to the creation of long-term shareholder returns.
-
Headwinds return
In this month's investment view, we refer back to our comments from February – sovereign default risk, political interference and Asian overheating – which after a quiet period, have once again attracted investor attention.
-
Rock bottom rates
In this month's investment view, we analyse options for investors in search of an attractive return on their savings as today’s cash and bond markets resemble a barren lunar landscape.