Why Value Investing
We invest in well-capitalized businesses where the market rating of invested capital does not fully reflect the long-term productivity of that capital.
Our quest for value assesses stocks for future earnings power, capital efficiency and the financial flexibility to cope with adversity.
Our team of portfolio managers and research analysts bring deep experience and specialist knowledge to each step of our investment process.
This issue sets out the team’s value investing progress over the past decade, considers the valuation of Hyundai Motor and discusses how ESG is factored into our investment process.
In this newsletter, the team looks past the impact of ultra-low interest rates, looks at the potential value of Skechers and assesses value in the energy sector.
South Korean stocks appear to offer compelling value, but family owned conglomerates present governance challenges.