Stock Market Mis-pricings

Our investment philosophy, outlined in our Investment Guide, is a discussion of how we invest profitably on behalf of clients; this is a discussion of what makes it possible for us to do so. Choosing to be an active manager does not automatically bestow one with the ability to extract economic rents relative to the […]

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Gold Versus Moats

Some investors flock to gold as a “safe haven” when faced with concerns about rampant inflation on the one hand or disasters in the economy and financial markets on the other hand. In this exercise, we test this rule of thumb against reality by comparing both the fundamental company results as well as the share […]

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Branded Food Producers

The propensity of branded food producing companies to earn superior returns relative to the cost of capital, and commensurately, perform well on the stock market lead us to write this paper. Upstream weaknesses such as global warming and impact of year to-year variations in temperature on crop yields, as well as water and irrigation shortages […]

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