5 results found

Active long biased, long short equity is optimal for meeting client goals. It combines equity market beta with absolute return thinking, stock picking skill, and flexible exposure. Market neutral investors forgo desirable long-term beta; long only investors forgo flexibility; behavioural biases risk passive investors panicking in bear markets and locking in losses. Investors should view long biased, long short equity as a core solution, dedicating a meaningful slice of portfolios to this strategy, rather than being constrained by traditional equity/debt buckets. The long-term alignment of the strategy (“means”) with client goals (“end”) is demonstrable and paramount.

Driven by Covid-19, 2020 saw economics 101 meet market psychology. Today, fear and greed set up a rich opportunity set on long and short sides.

Andrew Clifford | 0.50 CE

The 2010s challenged value investors as, paradoxically, cheap stocks became cheaper and expensive stocks grew more expensive. For those holding their nerve, the inconsistency sets up a good 2020s.

Andrew Clifford | 0.50 CE

We are all forced to invest to get a return, but as an industry we have overcomplicated this and at times not delivered. Work from first principles - let simple, a priori return potential be your guide.

Andrew Clifford | 0.50 CE

Investing is simply deploying savings to generate returns, yet abstractions such as indices are creating unnecessary complexity. Nowhere in an effective investment process need there be any reference to the prospects for a market index.

Andrew Clifford | 0.50 CE