Buying the peak of gloom – rotate from growth to value

Chief Investment Officer and founder of Aitken Investment Management
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Buying the peak of gloom, when the margin of safety is in your favour, remains the hardest aspect of investing. It’s lonely being contrarian and there are many periods when you feel outright wrong. It is a true psychological test but one that, if you pass, can generate the biggest investment returns.

History lessons

I don’t particularly like going back 10 years in history, but I will today, just to make a point that leads into the view I have of market leadership going forward.

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