Core Insights - The article emphasizes the importance of identifying high-potential investment opportunities before they gain mainstream attention, focusing on asymmetric risk-reward scenarios [1] - The investment strategy is centered around a 4-5 year horizon, allowing for the absorption of market volatility while aiming for significant long-term returns through disciplined capital allocation [1] Investment Methodology - **Leadership & Management Analysis**: Focus on companies with proven track records in scaling, smart capital allocation, and insider ownership, alongside consistent revenue growth and credible guidance [1] - **Market Disruption & Competitive Positioning**: Target firms with strong technology moats, first-mover advantages, and network effects that facilitate exponential growth in high-growth industries [1] - **Financial Health & Risk Management**: Prioritize sustainable revenue growth, efficient cash flow, and strong balance sheets to ensure long-term survival while avoiding excessive dilution [1] - **Valuation & Asymmetric Risk/Reward**: Utilize revenue multiples compared to peers and DCF modeling to assess value, ensuring downside protection while maximizing upside potential [1] - **Portfolio Construction & Risk Control**: Maintain a diversified portfolio with core positions (50-70%), growth bets (20-40%), and speculative investments (5-10%) to balance risk and reward [1]

Hi, I'm Yiannis. Spotting winners before they break out is what I do best.Experience: Previously worked at Deloitte and KPMG in external/internal auditing and consulting. Education: Chartered Certified Accountant, Fellow Member of ACCA Global, with BSc and MSc degrees from U.K. business schools. Investment Style: Spotting high-potential winners before they break out, focusing on asymmetric opportunities (with at least upside potential of 2-3X outweighing the downside risk). By leveraging market inefficienci ...

You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters. Advisors across all channels expect tax harvesting to become the most in-demand customization feature in portfolio construction as tax harvesting solutions become more available, according to the September 2025 Advisor Trend Monitor published by FUSE Research Network. “As clients age and wealth disbursement needs to happen, they need to manage their tax positions and the solutions [to do that], ...

Group 1 - Inflation reached highs not seen since the early 1980s three years ago, prompting the Federal Reserve to increase the funds rate to 3.25% as part of a rapid tightening cycle [1] - The tightening cycle by the Fed is noted as one of the fastest in decades, indicating significant shifts in monetary policy [1] Group 2 - The article does not provide specific insights or analysis related to companies or industries, focusing instead on general economic conditions and monetary policy [2][3]

Investment Strategy - The company focuses on spotting high-potential winners before they break out, emphasizing asymmetric opportunities with an upside potential of 2-3 times outweighing the downside risk [1] - The investment methodology includes identifying high-conviction opportunities through leadership and management analysis, market disruption and competitive positioning, financial health and risk management, valuation, and portfolio construction [1] Leadership & Management Analysis - Proven track record in scaling businesses is essential, along with smart capital allocation and insider ownership [1] - Consistent revenue growth and credible guidance are critical factors for evaluation [1] Market Disruption & Competitive Positioning - A strong technology moat and first-mover advantage are key competitive advantages [1] - Network effects that drive exponential growth and market penetration in high-growth industries are prioritized [1] Financial Health & Risk Management - Sustainable revenue growth with efficient cash flow is a focus area [1] - Maintaining a strong balance sheet and long-term survival runway is crucial, along with avoiding excessive dilution and financial weakness [1] Valuation & Asymmetric Risk/Reward - Revenue multiples compared to peers and DCF modeling are used for valuation [1] - Institutional backing and market sentiment analysis are considered to ensure downside protection with significant upside potential [1] Portfolio Construction & Risk Control - Core positions (50-70%) are allocated to high-confidence, stable plays [1] - Growth bets (20-40%) are high-risk, high-reward opportunities, while speculative investments (5-10%) are aimed at moonshot disruptors with massive potential [1]

Investment Strategy - Generating consistent returns requires a DEI (Diversity, Equity, and Inclusion) approach to portfolio construction [1] Portfolio Allocation Examples - Hype investments may involve companies with Chinese founders [1] - Launch investments may involve companies with Jewish founders [1] - IP investments may involve companies with Korean founders [1] - BTC investments may involve companies with Indian founders [1]

Investment Strategy - Portfolio allocation: 50% stocks and 50% crypto assets [1] - Asset limit: Maximum of 10 assets in the portfolio [1] - Investment horizon: 10 years with no selling allowed until year 5 [1] - Goal: Outperform the average S&P returns by 10%+ each year [1] Asset Selection Considerations - The strategy requires careful selection of stocks and crypto assets to achieve the target outperformance [1] - The long-term investment horizon necessitates assets with strong growth potential [1] - The inability to sell assets for the first 5 years demands a focus on assets with long-term viability [1]

Portfolio Allocation Strategy - The portfolio should consist of 50% stocks and 50% crypto assets [1] - The portfolio is limited to a maximum of 10 assets [1] Investment Goal - The primary goal is to outperform the average S&P returns by 10%+ annually over the next 10 years [1] Asset Selection - The report requires the selection of specific assets (stocks and crypto) [1] - Justification for the asset selection is needed [1]

Financial Data and Key Metrics Changes - The company has a long-term view on inflation and interest rates, expecting them to remain higher for longer, which aligns with historical trends [4][5][9] - The company has $116 billion of dry powder available for investment, indicating strong capital reserves for future opportunities [7] Business Line Data and Key Metrics Changes - The private equity portfolio is marked at over 60% at more than 1.5 times the cost, while public names are marked at an average of four times the cost, reflecting strong performance [18][19] - The company has been actively exiting investments, including sales in Japan and infrastructure, contributing to a mature portfolio [19] Market Data and Key Metrics Changes - More than 70% of the company's deployment in infrastructure over the last five years has been outside the United States, showcasing a global investment strategy [34] - The company has seen a shift in investor sentiment, with a more balanced approach to global allocations, particularly towards Europe and Asia [36] Company Strategy and Development Direction - The company is focusing on building portfolios that can navigate different economic cycles, emphasizing long-term investments [15][16] - Strategic holdings have been introduced to capture lower-risk, attractive reward investments, diversifying the company's offerings [23][25] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the realization outlook, citing a strong pipeline of realizations and a disciplined investment approach [15][21] - The company does not foresee significant stress in its portfolios despite macroeconomic concerns, indicating confidence in its investment strategy [12][14] Other Important Information - The company is expanding its product offerings for high-net-worth individuals through partnerships, aiming to capture a larger share of the market [45][49] - The insurance segment is expected to see growth in earnings as the business model transitions and third-party capital is raised [92][93] Q&A Session Summary Question: What is the company's view on inflation and economic growth? - The company expects inflation and interest rates to remain higher for longer, which is consistent with historical trends [4][5] Question: How is the company managing its portfolio amidst macroeconomic concerns? - The company has not seen significant stress in its portfolios and feels confident due to its portfolio construction and historical experience with economic cycles [12][14] Question: What is the outlook for the company's strategic holdings? - The strategic holdings segment is designed to capture lower-risk investments with attractive returns, and the company is optimistic about its growth potential [23][25] Question: How is the company addressing client demand for alternative products? - The company is seeing significant adoption of its alternative products and is expanding its offerings to cater to high-net-worth individuals [38][45] Question: What is the company's strategy regarding direct lending and asset-based finance? - The company is actively involved in both direct lending and asset-based finance, with a focus on scaling third-party business alongside its own insurance growth [76][80]

Investment Strategy - The company focuses on spotting high-potential winners before they break out, emphasizing asymmetric opportunities with an upside potential of 2-3 times outweighing the downside risk [1] - The investment methodology includes identifying high-conviction opportunities through leadership and management analysis, market disruption and competitive positioning, financial health and risk management, valuation, and portfolio construction [1] Leadership & Management Analysis - Proven track record in scaling businesses is essential, along with smart capital allocation and insider ownership [1] - Consistent revenue growth and credible guidance are critical factors for evaluation [1] Market Disruption & Competitive Positioning - A strong technology moat and first-mover advantage are key competitive advantages [1] - Network effects that drive exponential growth and market penetration in high-growth industries are prioritized [1] Financial Health & Risk Management - Sustainable revenue growth with efficient cash flow is a focus area [1] - Maintaining a strong balance sheet and long-term survival runway is crucial [1] - The company aims to avoid excessive dilution and financial weakness [1] Valuation & Asymmetric Risk/Reward - Revenue multiples compared to peers and DCF modeling are used for valuation [1] - Institutional backing and market sentiment analysis are considered for assessing investment opportunities [1] - Ensuring downside protection while maximizing upside potential is a priority [1] Portfolio Construction & Risk Control - Core positions (50-70%) consist of high-confidence, stable plays [1] - Growth bets (20-40%) are allocated to high-risk, high-reward opportunities [1] - Speculative investments (5-10%) are made in moonshot disruptors with massive potential [1]