We don’t believe in making investment decisions based on intuition born from experience. Instead, we strictly follow a framework that focuses on fact and logic and try to peel away opinion and emotion.
We believe good companies need time to prove their value, while short-term prices are more driven by non-fundamental factors. This creates opportunities for true fundamental investors with long-term horizons.
Valuation is only a helpful tool when combined with a real understanding of fundamentals. Our investment always starts from the latter.
In-depth fundamental analysis offers the best risk control.
We believe it is critical to strike a balance between conviction and flexibility in investing. We need to stay confident about our judgements rooted in fact and logic, yet at the same time, be aware of our limitations and respect the unpredictability of market conditions.