Long term investor - CEO and Founder of an investment technology startup. Designed and managed multi-asset institutional and wealth portfolios for over 15 years. Passionate about investments and big believer of portfolio construction/asset allocation/risk management. As Georges Soros said "It's not whether you're right or wrong, but how much money you make when you're right and how much you lose when you're wrong". The Happy Fund wants to be a source of investment ideas as much as a learning tool for building a robust long-term portfolio. The philosophy is simple: - build a portfolio of businesses that provide durable joy, satisfaction and well-being to their clients and community, - invest in high quality companies with sustainable high ROCE, strong competitive advantage (wide "MOAT") and high free-cash-low conversion rates, - avoid companies with high operating leverage, high pension deficits and high vulnerability to technological innovation, - seek to enter at significant discounts to fair value (20% or more), - adopt a discplined risk allocation approach based on conviction, maximum risk appetite and diversified exposures.