earnings

Safran (SAF FP; €60B Market Cap) is a world leader in production and maintenance of aeronautical engines and equipment. Its 50/50 joint venture with GE, CFM, builds...

In early August, we made the decision to move tactically underweight equities. Adopting a more cautious stance is perhaps not surprising given this is...

In our first monthly letter for the year, we highlighted that 2018 was unlikely to be a ‘set and forget’ year for investment strategy. As we approach the second half...

“In the short run the market is a voting machine but in the long run it is a weighing machine.” Benjamin Graham The father of value investing, Benjamin Graham,...

Over the past quarter, much of the small-cap index outperformance over large caps has been due to the excellent returns of small resource companies. Given their...