30JAN 2018

Value investing skills #1: Informational edge

There are arguably four broad categories where it is possible for investors to enjoy some sort of advantage over their peers. Here we consider the informational ‘edge’ and how value investors can benefit from one



27OCT 2017


The investment decision that haunts us most

As Halloween approaches, we remember a dream stock that turned into a nightmare after an unexpected turn of events left us without a ghost of a chance of making our money back


19SEP 2017


Why we bought Provident Financial

The extraordinary amount of bad news surrounding Provident Financial in recent weeks would have been enough to pique the interest of any contrarian – and that is when the hard work of value investing begins


31AUG 2017


How tobacco stocks could now be damaging to your wealth

When stocks become ‘priced for perfection’, as tobacco businesses now are, even relatively mundane pieces of negative news can have a significant effect on share prices

29AUG 2017


What you pay, not the growth you get, is the biggest driver of future returns

Investment can be as prone to trends as any other area of life so, to illustrate our confidence that value stands the test of time, we will occasionally republish old Value Perspective articles. This one is from January 2013

22AUG 2017


What makes a retail stock an attractive value investment?

In addition to a suitably cheap valuation, another important factor for value investors is the strength of a business’s balance sheet and particularly the amount of borrowing it may – or may not – reveal


21JUL 2017


Federer beat the averages. How often does this happen when investing?

In becoming the oldest Wimbledon champion of the open era, Roger Federer may have confounded the averages – but the thing about averages is they only happen most of the time

11JUL 2017


House prices outside London are fair-value

We question whether the correct data is being used to establish house price affordability and if that means house prices are indeed over-priced.