pf_menue-3x1.jpg pf_menue-3x2.jpg pf_menue-3x3.jpg pf_menue-3x4.jpg pf_menue-3x5.jpgpf_menue-3x6.jpgpf_menue-3x7.jpg


Our Approach:
We focus on value-based investments - we look for high quality companies that trade at valuations significantly below their intrinsic values. This approach aims at reducing risk while, at the same time, it allows for superior returns. We
also selectively invest in other financial instruments like
index certificates or commodities.

Why are there high quality, but undervalued companies? "Companies below the radar screen" ...

A large number of funds are so big that they need a certain minimum amount to invest per company.  As a consequence, these institutional investors would not even look at companies below a certain market capitalization, although these might be very attractive investment targets.
This opens a huge opportunity.  

Negative overreaction
Sometimes, there are events that negatively impact a company's valuation, however, the actual effect on the intrinsic company value might be much more limited. In such cases, many investors decide to sell, leading to a massive overreaction.  A high-quality stock can then
be bought at a very attractive price.

Out of favor
For example, energy shares were out of favor in the late nineties.
You could buy high quality companies at a price significantly below
their fair value.

Our Terms of use ...
Click here to submit:
Yes! I would like to receive communications relating to
this Site, its products and services including product
releases, product upgrades, seminars, events, training
and special offers, and Pearl & Fisher may use data I
have provided in accordance with the Privacy Policy
contained in the Terms of Use

By providing your information and continuing, you are
agreeing to the Terms of use including the Privacy
Policy terms contained therein
We sell our long warrants and the straddle

We sell the Dax call, the MDAX Call and the Nasdaq straddle (consisting of a long and a short instrument). The reason is that overall, the warning signs for the stock markets become more and more obvious: Increasing interest rates, a weak USD, high oil prices and fears of increasing inflation. As a latest trigger, we see that the volatility in the stock markets increases significantly which has happened often berfore bear markets. The latest rally might continue over the next days or weeks. But as the warrants are highly leveraged and pretty risky and we have achieved our targets, we realize the gains.

Date: 15-06-07

Buy Amazon

Amazon has all the incredients to become the next Walmart. PE looks high as the company invests in growth. On the other hand, price / sales of 2.5 looks reasonable when looking at the > 30% revenue growth rate.

Date: 23-05-07

Buy Natural Cool Holdings

This is a micro cap with a market cap at around USD 26M. The company is located in Singapur and offers installation and services of AC systems. They show an impressive ~30% growth rate. The PE ratio is at a level of ~ 6 which offers a nive value opportunity.

Date: 22-05-07

Home|Investment Approach|Team|Investment Picks|Radio Presence|Join Us for Free|Contact us|Terms of use