Edelweiss Capital Research

markets ￭ we believe humankind is living the biggest technological revolution ever: companies are now more capital efficient, with better asset-light business models and information is accessible to all, offering superior portfolio performances in the long term ￭ we do not take position in the value-growth-quality segmentation of investing strategies. we seek the best companies, with great optionality to grow, at reasonable prices ￭ markets are not efficient in the short-medium term, leading to opportunities to the patient investors companies ￭ we like aligned management incentives and long term thinking leaders, with outstanding and proven capital allocation skills ￭ there are two sources for shareholder value creation: growth and roic ￭ real and sustainable competitive advantages are scarce ￭ we seek to invest in businesses whose assets are intangible and difficult to replicate, natural monopolies or economic niches having scale, barriers to entry and pricing power long-term ￭ we