Investment Philosophy

Capital allocation in the value approach

Successful investing rests on a few clear principles, not on many tactical decisions.

What matters is not predicting these movements, but structuring a portfolio in such a way that it can withstand even significant market movements.

I deliberately refrain from short-term forecasts. Instead, I focus on structural forces and long-term developments.

The challenge lies not in knowing these principles, but in applying them consistently. Particularly when markets put convictions to the test.

Diversification does not mean investing blindly across a multitude of value funds, but doing so in a structured way.

A clearly defined decision-making framework protects against short-term impulses and preserves rationality even in difficult markets.

Foundation