Seeing the wood for the trees

By investing in companies undergoing positive change (in line with our sustainability and investment philosophy), we will have more real-world impact and build contrarian, valuation-disciplined portfolios, in stark contrast to the plethora of consensual, ‘ESG good’, growth funds in the market today.

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The Fog of War – Avoiding System 1 thinking

In Daniel Kahneman’s classic behavioural finance book “Thinking, Fast and Slow” (2011) he describes two modes of thought: System 1 (thinking fast) is fast, instinctive and emotional; System 2 (thinking slow) is slower, more deliberate, and more logical. Here, William Lough, portfolio manager, posits that during times of intense geopolitical upheaval, it is key to pull on System 2 thinking and maintain a keen eye on the true investment drivers of the companies we are investing in, and not be sidetracked by short -term market inefficiencies into a System 1 mindset.

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Finding patterns in the prosaic

William Lough, Portfolio Manager at River and Mercantile, considers how the team’s proven and repeatable process enables them to recognise recurring patterns to unearth opportunities that the market often overlooks.

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How to avoid being a slave to fashion

William Lough explains how the most important thing from an investment perspective is to avoid being sucked into the temptation – driven by human emotion – of being a slave to fashion, which often entails selling low and buying high.

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