Investment Philosophy

How I Think About Investing

Over the course of my career, I have worked in New York, London and Geneva, traveled three continents to source investments and built businesses focused on advising governments, institutions and private investors on how to improve portfolio performance.

During that time, I gained three powerful insights for successful investing: be imaginative, be forward-looking and cultivate self- and macro-awareness. I also observed that most asset owners, including me, dislike losses more than we enjoy gains. I embrace all of these into my philosophy can be summed up as follows: “it’s insufficient to merely pick a destination, you must also manage the journey in order to get there”.

How I Apply It

This philosophy guides my investing principles. I believe the most impactful and efficient way to generate returns is by dynamically adapting to the environment, incorporating protective assets to limit downside and adhering to sensible risk limits that mitigate extreme loss.

I believe my approach is distinctive because I rely less on conventional definitions of risk such as ‘standard deviation’. There is very little that is ‘standard’ about stock market returns, but I desire plentiful ‘deviation’ as long as it travels in the right direction. For me, asymmetry matters far more.

Therefore, I prefer to focus on upside and downside return potential. My overall investment process reflects this by establishing specific portfolio roles for each investment and constantly updating my confidence in each investment’s ability to deliver value for that role.