Dear Clients, We are pleased to report that 2020 was another positive year for performance in both absolute and relative terms. As you know, Globescan Capital was founded on the principle that investing in high-quality companies at attractive prices is the most consistent way to achieve long-run, risk-adjusted returns. As such we do not overly concern...
Aside from the pandemic and election related news this year, you are probably also aware of a significant wave of private companies going public in the market to great fanfare and even greater one day share price appreciation. Some notable examples this year have been: Snowflake, Unity Software, DoorDash, Airbnb… just to name a few....
Over the past decade, a new sub-industry has developed within the investment community. It operates under a number of names, the broadest of which is Responsible Investing, which incorporates concepts such as ESG (Environmental, Social, and Governance), and SRI (Socially Responsible Investing). At its core, Responsible Investing requires that investors acknowledge a number of issues...
Buried in the news coverage of the election last week was a story that China suspended the $34 billion IPO of Ant Group, the largest online payments platform in China which grew up inside Alibaba, just two days before its planned listing. If there wasn’t a huge amount of election noise going on right now,...
You might be familiar with the expression “don’t put all your eggs in one basket”. We prefer the expression popularized by Warren Buffett: “Put all your eggs in one basket, and then watch that basket very closely.” We firmly believe that despite what you may have been told, simply holding many different equities is not...
Step 1. Identifying a Long-term Inexorable Trend Wherever possible, we prefer investments that benefit from an inexorable trend – the sort of long-term trend that cannot be disrupted by geopolitics, elections, pandemics, wars, etc., the sort of trend that we can be confident will continue for decades into the future, and the sort of trend...
The S&P 500 continued its rally in the third quarter, adding another 9% in total returns, making the last six months the best period of performance the market has seen in over twenty years. And we are pleased to report that our GCI Select Equity strategy comfortably outperformed the broader market over this period. Of...
One area we have not yet touched on in our writing is that of the Investment Research produced by large Wall Street firms, also known as “Sell-Side” research. You might be wondering how much of this Wall Street research we use here at Globescan? The answer is close to none. The reason is that...
Gold is in the news again, having soared 34% to record highs in 2020. Is Globescan Capital buying Gold at these levels? No. Not now, likely not ever. Why not? For the simple reason that we (nor anybody else) really knows what the intrinsic value of Gold actually is. Give us a real asset like...
Over the last decade we have witnessed the rise (and fall) of many different investment concepts, as investment firms and academics search for a magic formula that can generate consistent returns, whilst crucially avoiding the hard work that is in reality required to generate those returns. Sadly most realize quickly that there is no...
