Philosophy

We believe good companies need time to prove their value, while short-term prices are more driven by non-fundamental factors. This creates opportunity for true fundamental investors with long-term horizon.

We buy “quality compounders” when they are out of favor to hold for longer term, while capturing tactical opportunities when prices deviate too much from value.

Valuation is only a helpful tool when married with real understanding of fundamentals. Our investment always starts from the latter.

We believe in-depth fundamental analysis offers the best risk control while quantitative risk analysis reinforces portfolio discipline.