Letter to Investors – April
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May 15, 2024
In this month’s Letter to Investors we take a step back and examine a vital principle: the importance of focusing on ‘process’ and not ‘outcomes’. We look at how this principle applies to the investment process that has successfully guided us as professional investors for around two decades each; but also explore how it applies to individual stock holdings including our recent painful example of Australian software company, Altium.
By Andrew Mitchell & Steven Ng Co-founders and Senior Portfolio Managers
Letter to Investors – March
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April 17, 2024
The most common question we get from investors is “what is the catalyst for small caps to start outperforming large caps?” In this month’s Letter to Investors we explain why we believe it is simply lower interest rates.
We also analyse what makes us confident to continue to invest personally into our global small / mid cap fund even if we don’t have a soft landing and U.S. recession fears become a reality.
Letter to Investors – February
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March 14, 2024
In this month’s Letter to Investors we review Global and Australian reporting seasons and provide an update on Transmedics (NDQ:TMDX) and Glanbia (LSE:GLB), two key positions in our global portfolios.
U.S. Small Caps – Once in a generation opportunity vs Large Caps
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March 14, 2024
In this month’s Investment Strategy Video (7 mins) Andrew Mitchell shares some key charts outlining why there is a a once in a generation investment opportunity in small caps vs large caps.