Our investment philosophy values change as a driver of opportunity, particularly the recurring entrepreneurial cycle of economic disruption and renewal.

Human nature is to expect results fast and thereby lose sight of the long game.  Experience has taught us to be patient in seeking opportunity and to be wary of risk.

Through adopting a bias to value, on thorough industry research, we believe it is possible to profit reliably from structural change while managing the cyclical risk.

Investment success depends on recognising long-term opportunity and balancing this with market risk.


Our firm is inspired by the fine example of William Stanley Jevons (1835-1882) and the simple dictum:

Curiosity finds Opportunity.

Jevons is famous for his contributions to economics and the theory of marginal utility.


These eight principles guide our thinking.

Optimism – is the fuel that drives human achievement

Humility – is the protector of every successful investor

Competition – is our best friend and our greatest teacher

Persistence – drives success in all human endeavour

Perspective – is what helps us recognise our errors

Culture – is the glue that binds a team together

Simplicity – is the surest way to mitigate risk

Courage – is essential to have conviction

Fiduciary duty to clients guides our actions.