July 2026
The case for patience in compounding
Why high-quality businesses, sensible valuation and time can be more powerful than constant portfolio activity.
Investment perspectives grounded in long-term thinking, business fundamentals and valuation discipline.
Our perspectives focus on the principles, market conditions and business characteristics that influence long-term investment outcomes.
Why high-quality businesses, sensible valuation and time can be more powerful than constant portfolio activity.
How valuation, expectations and financial resilience shape the probability of permanent capital loss.