Exclusivity versus Scale: Why Small is Better

Not every fund wants to grow endlessly. Here’s why we don’t wish to - for both client and fund performance reasons. Read more →

The advantages of investing in a smaller capacity-constrained fund, rather than a very large fund.

Stock market investing strategy when the stock market has made new all-time highs.

An All-Time High

When the stock market makes all-time highs, it feels risky, but history says otherwise. The evidence says: don’t wait.
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Trying to "time" the market always leads to investors missing out on stock market performance.

(Mis)Timing the Market

Everyone wants to know the perfect time to invest — but history shows that waiting for it can be the most expensive mistake of all. Read more →

A chart of a stock does not represent the company itself, it represents the collective behaviour of people.

This is Not a Stock Chart

What René Magritte’s famous painting can teach us about stock markets - and ourselves.
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The Market That Refuses Logic

Markets keep climbing despite bad news and deep scepticism—a reminder that disciplined, rules-based investing often beats trying to explain every move. Read more →

Stock markets often act contrary to investor's expectations and predictions.

The myth that momentum investing is unprofitable due to transaction costs.

Momentum Myth Busting: Transaction Costs

Critics often cite transaction costs as the Achilles’ heel of momentum strategies. We disagree — and demonstrate, with precision, why that argument no longer holds in today’s execution environment.
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The Research That Changed Everything: The Absolute Proof

Momentum is not a theory — it is one of the most consistently validated factors in finance. This piece revisits the foundational research and the statistical evidence behind our conviction.
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The absolute, scientific proof that momentum investing works and is more profitable than any other investment strategy.

Stock markets have a natural statistical edge and advantage for buying stocks. Stock markets have a long-only bias. Stock markets are rigged in favour of the investor.

The Stock Market Might Be Rigged — In Your Favour

Equity markets are structurally biased to rise over time — not by accident, but by design. For long-biased hedge funds, this isn’t just a tailwind; it’s a core advantage that can be compounded through intelligent strategy. Read more →

Crypto is a cult and not suited as an investment. It can be traded short-term, but is not suited for any other purpose.

Crypto: The Cult of Digital Nothingness

In an era of speculative fervour, we remain anchored to empirical evidence and economic reality. Here’s why we avoid digital assets — and why doing so is not risk aversion, but risk intelligence.
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AI is not a replacement for human intelligence in investing. Artificial Intelligence and Hedge Funds. AI in portfolio management.

Artificial Intelligence and Hedge Funds – A False Promise?

AI has become the industry’s latest buzzword — but how much of it is substance, and how much is branding? We examine the structural limitations of AI in investing, and where real intelligence still matters most. Read more →

The science of investing and portfolio management is like Formula One.

Pursuit of Perfection: Why Quant Investing Is Like Formula One

In both racing and investing, competitive advantage lies in the accumulation of marginal gains. We explore how a disciplined, iterative approach to quantitative research compounds into real performance. Read more →

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