Darwin Investment Strategies: An elegant reconceptualization of asset allocation using portfolio mathematics, insensitive to noise and regularly reconfigured to account for observed changes in volatility and correlations across the world's major markets and asset classes. No story, no forecasts, no biases; just maximum returns per unit of risk.
Value investor pur sang.
An investor who outperforms when markets tank and underperforms when markets rise, displays a sound risk management. An investor who outperforms in a rising markets is simply (and maybe without knowing it) taking too many risks. The lower drawdowns that accompany value investing allow it to deliver returns that even may equal a buy-and-hold equity-investor. The immense drawdowns encountered by the latter may very well cause him to abandon his buy-and-hold strategy at the worst possible moments… When a value investor is underperforming, he will most of the time still enjoy positive, absolute returns….
Value investing can (and will by the Belgian Dentist) be applied to (most importantly) asset allocation, but also to:
• Country selection,
• Sector selection and
• Security selection.