Japan: A tech paradox
February 26, 2026
Accelerated by the pandemic, Japan’s shift from legacy systems to cloud-based solutions highlights opportunities and challenges within the country’s IT landscape.
We are uniquely focused on constructing the best global,
Thematic approach
Portfolios are constructed according to asymmetric, uncorrelated, economic and global market themes rather than a stock’s relative valuation within its industry sector.
A big universe of
small cap companies
Our investment universe includes all companies with market capitalizations ranging from approximately US $300 million to US $8 billion. In the search for companies with unrecognized growth potential, we use various screening methodologies across global databases to identify those companies that offer strong financial productivity, a historical pattern of earnings growth, and management teams with a significant ownership stake.
Knowing
what to buy
We submit each company to a thorough assessment of its business model. Screening on measures such as profitability, revenue growth, and balance sheet strength help narrow the universe.
We identify, through fundamental analysis, management interviews, and on-site visits, companies with features such as dominant market share, sustainable competitive advantage, and clearly defined growth strategies. We use discounted cash flow analysis to determine implied margins, capital intensity, and growth rates. Finally, we conduct an asset-based valuation analysis on each selected name.
Knowing
when to buy
In determining investment opportunities, we identify stocks
trading at a significant discount to intrinsic value.
We also identify the catalysts expected to drive realization of their true value.
From our best ideas, we build diversified portfolios of 50-70 stocks.
Knowing
when to sell
Knowing when to sell a security is critical to realizing and protecting accumulated gains. We maintain the purity of our small cap portfolios by adopting a strong sell discipline.
Positions may be sold if: a company’s market capitalization exceeds the upper limit of the benchmark; there is a change in strategy, a loss of competitive advantage or an excessive valuation; or we identify a better investment opportunity.
Risk management
By their nature, smaller companies tend to have higher levels of stock-specific risk. We manage this risk in three key ways:
1. rigorous research and due diligence when adding a stock to a portfolio;
2. blending stocks according to uncorrelated, asymmetric investment themes; and
3. inclusion of secular or cyclical companies identified through bottom-up analysis as having unrecognized growth and/or that add diversification to a portfolio.
Insights
Read More
Capstone Copper: Positioned to benefit from a structurally tight copper market
February 12, 2026
Copper markets are entering a structurally tight phase while Chile’s evolving policy backdrop is improving the outlook for long-life, capital-intensive mining assets.
Five reasons European retail brokerages keep outperforming
January 29, 2026
Retail investors have reshaped markets, and European brokerages have been among the biggest beneficiaries.
Five ESG trends for 2026
January 15, 2026
Despite some recent pushbacks, ESG is here to stay and remains a critical lens for identifying material risks and long-term value in a changing world. Here are five key ESG trends shaping 2026.
2026: The year quality starts to matter again
December 18, 2025
Farewell 2025 tech bubble, hello quality-focused reset in 2026.
Addressing the myopia pandemic
December 11, 2025
Myopia rates are surging worldwide, especially among children and teens, but industry leaders are innovating solutions to improve access to vision correction worldwide.
Time to take out the trash – Why high ROE matters in the long run
December 4, 2025
Time and again, numbers show that high ROE stocks consistently outperform their lower-quality counterparts, even when speculative surges dominate for short periods.
Testing matters: Ensuring semiconductors can withstand the pressures of AI
November 27, 2025
As AI accelerates the complexity and value of semiconductors, robust testing has become essential for reliability and performance.
Game changers in Japan’s equity market
November 20, 2025
Japan’s equity market is experiencing a structural reset, marked by record-breaking foreign inflows and transformative reforms.
Global reindustrialization to lift Konecranes
November 10, 2025
Global reindustrialization, infrastructure renewal and port electrification are creating long-term demand for lifting and automation equipment. Explore how these secular trends could sustain growth for the Finnish lifting-equipment leader.
From super to secure: Australia’s push for guaranteed retirement income
November 6, 2025
Annuities, superannuation and regulatory shifts – what’s driving change in Australian retirement planning and what does it mean for investors and retirees?
Skipping the siesta: Spain is Europe’s star performer
October 30, 2025
Spain has emerged as Europe’s standout performer, driven by open borders, robust EU investment and record-breaking tourism.
Feeding hearts and portfolios: Growing protein trend is good for your health and investments
October 23, 2025
Salmon, renowned for its omega-3s and complete protein profile, is driving consumer demand and reshaping portfolios.
From traditional to leading edge: China’s pharmaceutical industry revolution
October 16, 2025
China’s pharmaceutical sector is rapidly evolving from a generics powerhouse to a global leader in drug innovation.
Updates from Brazil and Mexico: Rates, politics and trading
October 2, 2025
Insights into the approaching Brazil 2026 elections and the implications of Mexico’s tariffs and the USMCA review.
For additional information on Global Alpha Capital Management Ltd., please contact:
Jean-Philippe Lemay
Managing Director,
Head of Institutional Sales,
Global
Eric Hasenauer
Senior Vice President,
Co-Head of Institutional Sales,
USA
John Ricketts
Senior Vice President,
Co-Head of Institutional Sales,
USA
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Global Alpha Capital Management Ltd.
December 20, 2021