INFORMATION
The investment strategy of XAM Capital Ltd. is based upon some fundamental pillars which are quite distinctive.
First: Our long experience in South-East Asia gives us an unsurpassed insight into the characteristics of regional markets, their idiosyncrasies and pitfalls. We have been around long enough to see some surprising developments while markets churned from cycle tops to rock bottom pits and back up again.
Second: A strictly value-based approach. Not for us: the wild flings of optimism based on nothing more than hype and hot air. Before we buy a stock, we want to watch it for some time until we're pretty sure that the management is solid and the business model is sustainable. It also helps if the balance sheet is strong and clean.
Third: No rush. Actually we prefer to stay in cash and cash-near instruments until we see an opportunity developing. A long journey through an investor's life shows clearly that it doesn't pay to go for small gains. To chase a return of perhaps ten percent while one is exposed to potential losses far greater than that is usually not a sign of brilliance. In our view it's better to lay in wait just like the big game do on sunny days in the African lowlands. Then, when disaster strikes somewhere, as it usually does, go in cool-headed and aim for the jugular. Buying very cheap and holding on is better for us than participating in aimless trading for crumb-sized gains.
XAM Capital Ltd. is driven by the philosophy of intelligent risk-taking. We do not rely on investment committees and bureaucratic layers to generate a false sense of security. We also do not claim to be in possession of some proprietary black box which tells us how to play the markets and generate profits. We are a risk- and profit-sharing investment company for grown ups who are successful in life and can take care of themselves.
Dr. Hans Stockmayr
Chief Investment Officer
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