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Emerging Market Viewpoints – June

14 June 2018

Latest Emerging Market Viewpoints
From Matt Linsey and the North of South Capital team

We have written a number of times in the past regarding our investment process which has a clear focus on value. Our definition of value is relative and we believe that measuring value only in an absolute sense is dangerous. A low price earnings ratio or high dividend yield in isolation provides only a partial indication of a company’s worth. Stocks are a very long duration instrument – the typical analyst forecast period of 2-3 years usually only accounts for less than 10% of the value of the business. Therefore, it is imperative to have a robust process in determining the cost of capital which is used to discount and value the future cash flows. 

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EM value specialists

11 June 2018

EM value specialists - North of South Capital
Hear from our highly experienced team

Matt Linsey, Lead Portfolio Manager and Partner of North & South Capital and Kamil Dimmich, Co-manager and Partner outline their unique interpretation of value investing, and why it’s so critical to consider the ‘Cost of Capital’ when investing across Emerging Markets.  

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