GLOBAL EQUITY FUND
The DCF global equity fund applies a disciplined long term investment approach and favours high quality companies over so called "cheap" but lousy businesses. DCF would rather pay a fair price for a wonderful business (high returns, barriers to entry, dominant market position, great management, strong brands etc) than pay a low price for a poor business (no pricing power, needing leverage to make returns, weak balance sheets, no control over demand, no control over price etc). The credible long term track record has been built on proprietary research. Securities have been selected on sound rational business analysis based on logic and prudent reasoning, offering the highest potential return with the lowest possible amount of corresponding risk.
Short term gyrations in stock prices are random and therefore ignored.
The philosophy of global diversification is to lower the risks without compromising returns while maximising the investible opportuniity set. The fund utilises long and/or short equity strategies, generally in small to medium capitalization companies located globally. Many times these companies are unknown to mainstream investors and provide a competitive advantage to the fund.
DCF avoids the dealy sins of investing (speculation, timidness, overconfidence, impatience, ignorance, stubborness and disillusionment). Geographic isolation leads to independent thought process without the daily headline noise.
DCf enjoys a strucutural advantage by having a small size and thereby a large opportunity set to cherry pick the best ideas from.