![Where do we go from here?](https://www.havelocklondon.com/wp-content/uploads/2024/07/Signs-1140x400.jpg)
Where do we go from here?
Our modus operandi is to be bottom-up investors, studying companies that we think might make for overlooked bargains. This, however, doesn’t entirely free us from thinking about the bigger picture ...
![The Voting Machine](https://www.havelocklondon.com/wp-content/uploads/2024/06/The-Voting-Machine-1140x400.jpg)
The Voting Machine
The grandfather of value investing, Ben Graham, famously said that “in the short run, the market is a voting machine but in the long run, it is a weighing machine” ...
![Can trees grow to the sky?](https://www.havelocklondon.com/wp-content/uploads/2024/03/trees-1140x400.jpg)
Can trees grow to the sky?
The performance of American public equities since the Global Financial Crisis has been exceptional, with the result that they account for more than 70% of the MSCI World index. This ...
![New Year's Resolutions](https://www.havelocklondon.com/wp-content/uploads/2024/01/chocolate-1140x400.jpg)
New Year’s Resolutions
If you are anything like me you will have arrived in January willing yourself to be a better person, full of resolutions to eat less, exercise more, and to use ...
![The long-term just happened...](https://www.havelocklondon.com/wp-content/uploads/2023/09/balloon-cropped-1140x400.jpg)
The long-term just happened…
It has been five years since the Havelock Global Select fund launched in August 2018. I will stop short of saying what “uncertain times” they were, as to my reckoning ...
![Back off to the races?](https://www.havelocklondon.com/wp-content/uploads/2023/06/HORSES-1140x400.jpg)
Back off to the races?
There has, of late, been a certain amount of punditry about “style rotation” within equity markets. Will last year’s outperformance of “value” over “growth” resume, or did the resetting of ...
![KYB - Know Your Banks](https://www.havelocklondon.com/wp-content/uploads/2023/03/banks-1140x400.jpg)
KYB – Know Your Banks
The collapse of Silicon Valley Bank has sent shockwaves through the financial markets, with many investors being blind-sided by the true state of their balance sheet that led to a ...
![What have we learnt from history?](https://www.havelocklondon.com/wp-content/uploads/2023/02/what-did-we-learn-from-history-1140x400.jpg)
What have we learnt from history?
The world appears to be at something of a crossroads, with investors divided as to if last year was a temporary setback for markets, or if we have moved into ...