Insights

As capital becomes more global, the trend to compare the pricing of global companies to local is on the rise.

“It has been demonstrated time and time again that no asset is so good that it can’t become a bad investment if bought at too high a price”. Howard Marks, The Most Important Thing, 2011

4D Infrastructure believes incorporating responsible investment into our investment and stewardship processes not only results in better ethical outcomes, but also enhances investment outcomes for our investors.

Being unique for the sake of it is no justification for investment. However, we are confident that the new-age ground lease niche, to which Safehold (SAFE) is the pioneer, is not yet widely known or properly understood by the market.

We are delighted to share our first half-yearly update for the Canopy Global Small and Mid-Cap Fund with you.

After a year of US economic supremacy, dozens of national elections and new records set in major equity markets, we consider what the year ahead could bring.

Last month, US voters re-elected Donald Trump for a second term as US president. As a result, market enthusiasm and expectations are high. An immediate rally in US equities (and a selloff in bonds) pointed to renewed optimism for both growth and pessimism for inflation.

"Quality counts. If you are a long-term investor, it’s hard to find a more important factor as to what will power your ultimate investment returns. That said, quality is impossible to measure with precision because it often embodies more subjective qualitative factors than easily quantifiable measurements. Quality is also dynamic and changes over time".  Tom Gayner, CEO Markel

While hindsight is 20/20, Nike's recent moves in the retail space offer valuable lessons for consumer businesses and real estate investors alike.