Creativity in Fund Management

The word "creativity" is virtually absent from our industry. Here's why we believe fund management is one of the most creative industries in the world - it just refuses to admit it. Read more →

America

Does American Exceptionalism extend to stock markets too? As portfolio managers, we have a full 75% of capital allocated to US stocks, and only 25% to Europe. That might make some investors a touch nervous. Read more →

Momentum in Bear Markets

What happens to momentum investing in “falling piano” markets? How are corrections, crashes and bear markets defined, but more critically, what does AlphaScience do in bear markets?
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Snipers - Not Infantry

Sophisticated investors and asset managers construct their investment portfolios differently to normal investors. But where does AlphaScience fit into an investment portfolio?
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Is Momentum Investing “Predicting” the Market?

Markets can’t be predicted, but momentum works. Collective investor behaviour gives a probabilistic edge, without ever claiming foresight. Read more →

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 stock market 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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