Recession risks down under
September 29, 2022 | Global Alpha Capital Management
We discuss why Australia could better weather a recession.
[...]A concentrated portfolio of global, international, and emerging markets small
capitalization stocks employing a fundamental approach to identify companies
with unrecognized and accelerating earnings growth potential.
Highlights
Small Cap Specialist: Exclusively focused on the small cap market
Experienced and Stable Team: Seasoned partners with proven investment results
Rigorous Research: Detailed fundamental research supported by management meetings and secular themes
Robust Portfolio Construction: High conviction portfolios driven by security selection and designed to mitigate factor risks
Philosophy
Earnings growth per share drives stock prices
Secular growth themes support outperformance
Identify good companies with unrecognized growth potential
Long-term investment horizon for value realization
Investment process
Research Prioritization of 11,000 names
Engage with companies, including around 1,000
management meetings per yearAnalyze the universe based on capitalization and quality metrics
Fundamental Research
Rigorous bottom-up analysis on 250-300 names
Seek undiscovered value in companies with strong earnings growth
Forecast intrinsic value using a range of valuation tools
Investment Themes
Find companies expected to benefit from secular growth themes
Environment, Social & Governance
ESG factors integrated into investment analysis
Utilize proprietary scoring system designed for the small-cap universe
Portfolio Construction & Risk Management
Build high conviction portfolios of 50-70 stocks
Focus on adding value from security selection and minimizing factor risk
Global Small Cap Strategy
A concentrated portfolio of global small capitalization stocks employing a fundamental approach to identify companies with unrecognized and accelerating earnings growth potential.
International Small Cap Strategy
A concentrated portfolio of non-North American developed countries (EAFE) small capitalization stocks employing a fundamental approach to identify companies with unrecognized and accelerating earnings growth potential.
Emerging Small Cap Strategy
A concentrated portfolio of emerging markets small capitalization stocks employing a fundamental approach to identify companies with unrecognized and accelerating earnings growth potential.
Insights
Read More
Always in style
September 22, 2022 | Global Alpha Capital Management
In this week’s commentary we are profiling Dentium (145720 KS), a Korean dental implant manufacturer, and one of the top holdings of our Emerging Markets strategy.
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A strong balance sheet the recipe to avoid capital loss
September 8, 2022 | Global Alpha Capital Management
In this week’s commentary, we discuss an important item we look at before investing in any company: the strength of the balance sheet.
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Revenge travel and Samsonite
August 25, 2022 | Global Alpha Capital Management
Recently, it seems everyone is travelling again with travel activities dramatically increasing in most regions. In this week’s commentary we profile our holding Samsonite, the world’s largest travel luggage compan [...]
Macro in Europe and results
August 11, 2022 | Global Alpha Capital Management
We share some thoughts regarding the European economic landscape and fundamentals behind companies having reported their half year financial results.
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From the ground up: Gardening and the art of portfolio management
July 28, 2022 | Global Alpha Capital Management
In this week’s commentary we discuss how the alchemy of art and science that goes into gardening is similar to Global Alpha’s investment philosophy.
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Germany and gas shortage
July 14, 2022 | Global Alpha Capital Management
We discuss Germany’s reduced gas supplies and its impact on our Germany holdings. The Emergency Plan for Gas for the Federal Republic of Germany was published in September 2019.
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What to expect in a recession
June 30, 2022 | Global Alpha Capital Management
We discuss the fears of a potential recession as investor behavior has shifted from ‘buy the dip’ during the pandemic to ‘sell the rally’.
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Summer season back in full swing
June 16, 2022 | Global Alpha Capital Management
We discuss the how travel-exposed names will benefit from the summer vacation tailwinds. As the first official day of the summer approaches, it finally feels like the world is getting back to normal.
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Exaggeration through extrapolation
June 9, 2022 | Global Alpha Capital Management
We discuss the exaggeration of the end of the brick and mortar economy and why the digital takeover did not quite live up to its promise.
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Philippines: The undiscovered country
June 2, 2022 | Global Alpha Capital Management
We discuss the growth opportunities in the Philippines, an undiscovered country with plenty of potential to unlock value.
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Gaming update
May 26, 2022 | Global Alpha Capital Management
We discuss the recent falling out of favor of the video game industry among investors. After growing at 9% compound annual growth rate (CAGR) for the last decade, there is still much to get excited about regarding the [...]
Supply chain opportunities
May 19, 2022 | Global Alpha Capital Management
We discuss the implications of supply chain disruptions and abrupt changes in market conditions, and the impact it could have on our portfolios.
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Now hiring? Good luck with that!
May 12, 2022 | Global Alpha Capital Management
We discuss factors contributing to what some experts in the U.S. are calling the tightest labour market in 70 years.
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The myth of inflation in Japan
May 5, 2022 | Global Alpha Capital Management
We discuss low inflation in Japan. When most countries are wrestling with rising inflation, Japan is the outlier.
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