The Investment Process

Our Process Infographic

Idea Generation

Identify industry trends, understand profit and credit cycles, demographics, regulatory framework, develop themes

Security Analysis

Company meetings, financial statement analysis, valuation work, examine business models, identify catalysts

Investment
Review

Research meetings, interactive dialogue, security recommendations

Portfolio
Construction

Security selection, sizing of positions, long and short exposure targeting, geographic weighting, express themes

Risk Oversight

Ongoing portfolio monitoring, risk committee, portfolio analytics, stress testing themes and assumptions

Investment
Portfolio

The Research Process

Identify Shortages

Identify Shortages

  • Supply shortages emerge due to inadequate investment, which leads to higher prices
  • Higher prices in turn lead to higher cash flows and higher returns on investment
  • Identify those companies best positioned to take advantage of shortages

Identify Global Geographic Growth Opportunities

  • Stock market valuations are deemed to be inexpensive
  • A catalyst for growth is present
  • The currency is expected to strengthen relative to the U.S. dollar, enhancing U.S. dollar returns
Global Growth
Global Credit

Identify Unique Global Credit Market Opportunities

  • Changing economic fundamentals may be a positive factor for both income and price appreciation
  • An attractive yield curve exists to react to changing economic fundamentals
  • For international securities, the currency is expected to strengthen relative to the U.S. dollar, enhancing U.S. dollar returns