We have studied the work methods of those who seemed to be most successful, and we will continue to do this. We remain fully open to improving our management process. After so many years, we can summarize our approach in four words:
Objectivity
Handle information rationally. Be Cartesian. Emotions, optimism and scepticism end up being troublemakers in portfolio management.
Discipline
Keep the approach constant, even if reality temporarily gives no reason to. Avoid passing trends and flavours of the month.
Performance
Always seek a maximum return without incurring unnecessary risk to achieve the set goals.
Communication
Beyond portfolio management, I think it makes sense to explain the reasons underlying a decision or strategy. In addition, in some periods it requires a lot of communication effort to preserve objectivity and stay disciplined.
