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Best Ideas.

Long-Only

Absolute Return

US Equity Strategy

Guiscard Capital curates a portfolio of high-conviction US stocks selected by highly-experienced fund managers with a demonstrated track record of superior performance. 

Portfolio construction eliminates portfolio redundancy and overlap. It manages risk through diversification.

We actively manage stock, sector, style, market and currency risks using our proprietary risk management and asset allocation frameworks.

Our objective is +2% p.a. out-performance of our benchmark (80% US stocks, 20% cash, AUD unhedged) over three to five years.

A fund manager’s highest conviction ideas have the greatest chance to out-perform the market and the rest of their portfolio.

 

Why do most fund managers hold so many stocks? To manage more money and earn more fees.

 

Additional stocks boost liquidity, increase capacity and reduce the fund manager’s risk of getting sacked for underperforming the market. This comes at the cost of performance.

Traditional Library

Best Ideas by Antón, Cohen, and Polk

A Harvard Business School Working Paper

"We find that the stocks in which active mutual fund or hedge fund managers display the most conviction… outperform the market, as well as the other stocks in those managers’ portfolios, by approximately 2.8 to 4.5 percent per year... The vast majority of the other stocks managers hold do not exhibit significant outperformance."

Cumulative Returns Since Inception

Best Ideas: 23.60%

Benchmark: 20.26%

Difference: +3.34%

Benchmark is a composite of 80% SPDR S&P 500 ETF (SPY) and 20% SPDR Bloomberg Barclays 1-3 Month T-Bill ETF (BILL): 20.26%

Prior to 1/4/2020, Best Ideas was available in two variants.

Best Ideas Competitive Edge Historical Performance

Best Ideas Market Timing Historical Performance

Top & Bottom Five Contributors - Since Inception

Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur.

Figures are current as at 31st of August 2020.

Performance is in AUD.

Figures are NET of investment management fees and GROSS of performance fees.

Returns are based on a composite of all client accounts. 

Inception date for the Best Ideas Competitive Edge investment strategy is 1/3/2019. Inception date for the Best Ideas Market Timing investment strategy is 11/4/2019. The strategies were combined into a single strategy on 1/4/2020.

Benchmark returns are converted into AUD using monthly exchange rate data from Interactive Brokers LLC and the Federal Reserve Economic Data website: https://fred.stlouisfed.org/ .

All figures are calculated by Interactive Brokers LLC. 

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Lvl 39, 55 Collins Street, Melbourne, Vic, 3000

This web page is for informational purposes only. It does not constitute financial advice or take into account the particular investment objectives, financial situations or needs of individual readers. Readers should consider whether any opinions or recommendations on this website are suitable for their particular circumstances and, if appropriate, seek professional advice, including tax advice. This web page has been prepared with care. However, Guiscard Capital Pty Ltd makes no warrant of any kind in regard to the contents and Guiscard Capital Pty Ltd shall not be liable for incidental or consequential damages, financial or otherwise, arising out of the use of this web page. This web page is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. The price and value of investments referred to on this web page and the income from them may fluctuate. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. The contents of this web page are subject to the provisions of the Copyright Act, 1968, and any unauthorized reproduction of it is subject to prosecution under the provisions of the Act.