EVALUATE & DEFINE MACRO FORCES

Successful stock selection does not happen in isolation. Our wealth management team places a strong emphasis on the following:

• Current events and potential impact on the markets
  

• Changes in global markets, both economically and politically
  

• Shifts in global and domestic demographic trends
  
  

DETERMINE BENEFICIARIES

Based on defined macro themes, we determine the main beneficiaries by:

• Finding geographies, sectors and industries with the best risk/reward ratios defined by macro views
  

• Taking a top-down value-oriented approach with a deep fundamental analysis
  

• Taking a contrarian view to identify opportunities that are misunderstood by the market
  
  

STOCK SELECTION

Based on the most likely beneficiaries of the defined macro view, our team emphasizes the following for stock selection:

• Large-cap stocks (generally) as they offer quality, liquidity and opportunity
  

• High-quality companies with organic revenue and profit growth
  

• Companies with a sustainable business model and diversified customer base
  
  

RISK MANAGEMENT

• We target “reversion to the mean” stocks that have lagged their peers.
  

• We are style agnostic, but we do not practice momentum investing.
  

• We know investing is a probabilistic exercise. Our team looks for stocks that have been overlooked, misunderstood or facing low expectations by the investment community, thus providing a wider margin of safety on a risk/reward basis.
  

MONITOR PORTFOLIO

• We analyze and review daily news flow, reports and quarterly earnings.
  

• We evaluate various analyst reports that are contrary to the team’s thesis in order to solidify their conviction.