I believe this is the most important page on the blog, as it provides crucial context for understanding my approach to making investment decisions. If the insights and strategies shared here resonate with your own investment journey, I encourage you to continue exploring the resources and perspectives offered.
My investment approach has evolved over the past 25 years, shaped by a combination of day-to-day market observations and influences from figures like Warren Buffett. While there is a separate section detailing my CV and experience, I will provide a brief overview here for context.

I pursued a straightforward educational and career path: I earned a bachelor’s degree in business in the U.S., followed by a master’s in Accounting and Finance from the London School of Economics. After graduating in 2004, I began my career in asset management, managing equity portfolios for large institutions and pension plans. At the same time, I have been personally managing my own investment portfolio for the past 25 years.

While my career has provided invaluable insights into market dynamics, the way I invest personally differs significantly from my professional approach. Everything you will read here reflects my personal investment philosophy and is in no way connected to the institutions I work with.

As for the rest of the website, most of the content will focus on specific stocks, my portfolio holdings, and, on rare occasions, commentary on the broader market.

I typically invest for the long term, often holding stocks for many years (with an average holding period of 5-10 years). There are a few key principles and fundamentals I focus on when making investment decisions, which I’ll outline below. At a high level, however, I categorize my investments into two main types, and my approach to each differs slightly.

1. Large Cap Stocks
These are usually large multinational companies with diverse revenue streams and multiple product lines. While valuation is always a consideration, I believe it’s challenging to “outsmart” the market based on valuation alone. Instead, my focus is on the long-term growth prospects of these companies and whether the market is mispricing their future potential. Typically, these stocks fall under the “growth” category.

2. Small/Micro Cap Stocks
These are companies with market capitalizations below £200 million, often with one or two product lines, operating in a single country or niche market. In these cases, I pay close attention to factors like product understanding, competitive advantage (or unique selling proposition), valuation, and the management team. Because these companies often have little institutional investment, their mispricing can be significant and may persist for a longer period. This approach is more aligned with “value” investing.

In the following pages I would describe the Principles which guide my decisions