Review and Analysis of the calendar year 2018

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  • Value Insights

1.) Single Factor Performance

Before getting into the detail of 2018 we would like to highlight once again the key elements and drivers of our investment process. We strive to select superior stocks through valuation advantages and thereby benefit from: mispricing’s in the market, valuation dispersion, earnings momentum and interest rate increases when coupled with strong economic growth.

In the next couple of sections we will cover single factor returns, factor families “styles” returns, the breadth of outperformers/underperformers, the impact of size and the current big upside potential of our portfolio. The last couple of months have been driven by a massive uncertainty, which makes it very hard for investors to remain rational and patient. The reaction against our value approach has been the second biggest to date in our opinion and only slightly behind the “2000” tech-bubble.

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Goran Vasiljevic

Managing Director (CEO, CIO)

 

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