Investor sentiment has undergone a huge shift in just a year. The prevailing consensus, dubbed the “soft landing,” has spurred a significant rally in equities. Particularly those with long duration earnings profiles as A.I. euphoria and rate cut expectations collide.
Amidst this fervour, the concept of real returns seems to have faded into the background, overshadowed by the relentless flow of passive capital. This dynamic presents some promising opportunities for investors willing to “do the work” in geographies and sectors still representing value.
In this quarter’s insights, we explore Alvia’s open approach to investing, pondering the merits of specialisation versus a generalist approach. We also draw parallels between private and public equities, challenging the conventional wisdom around classifying PE as an “Alternative”.
Josh Derrington, CIO, rounds off this edition by addressing the perennial conundrum of when to sell.
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