A regular program of corporate meetings gives us an edge
Face to face meetings with management is an essential part of our investment process. We pride ourselves on knowing many of the management teams in Europe. As most of our investment ideas center on breaking down a company’s transformation process, we like to converse with management in order to understand the company’s key initiatives to grow revenues and margin.
Anticipate changes in expectations
Understanding market expectations and anticipating revisions drive superior returns. We focus on long term free cash flow generation at a reasonable price. Often, operating leverage is the hardest to predict but has a significant impact on the company’s ability to outperform. This is also how we try to capture uncorrelated returns.