Top-down and bottom-up approaches are methods used to analyze and choose securities, but the terms also appear in many other areas of finance and investing. https://t.co/oHKGwDjxC1 ...

Core Insights - The investment strategy focuses on long-term macro and secular trends, identifying companies that will be essential in the future [1] - The portfolio is typically concentrated, holding 8-12 companies, with a buy-and-hold philosophy aimed at long-term income generation and growth opportunities [1] Investment Approach - A top-down approach is employed, starting with macro trends and drilling down to industries and companies with strong fundamentals [1] - The emphasis is on durable themes that shape the future, ensuring that selected companies have proven management and attractive valuations [1] Portfolio Management - The strategy includes a mix of long-term income generation and selective large growth opportunities for outsized returns [1] - Patience is a key component, allowing long-term ideas to compound over time [1]