Layer Investing

Ever wonder why we have to invest in an equity-only fund or a fixed income-only fund or a long-only fund or a China-only fund or a Japan-only fund or a consumer-only fund or property-only fund, etc.  Ever wonder whether these portfolio managers have become too specialized and forget that the world which we live in is more interconnected than ever before.  Ever wonder why it seems like more than 90% of portfolio managers consistently underperform the index?  Are they plugged in to the information flows that should have been a crucial part of their investment decision process or yet, are they too old and rigid to adapt to the new age where information is at everyone's finger tips.  Does the old model of compartmentalized of investments by products, sectors or countries still make any sense in today's age of ubiquitous disruptive technology?  

If you have wondered as much as we do, then HDH has been established with a different goal. There are no lines nor boxes in our approach.  Information has become too abundant and readily accessible through all forms of communications. There is no longer a need to actually leave our office premise to conduct company visits onsite when almost every news are webcast.  Our job is not about gathering information but about processing these big data into a single, concise and actionable idea.   We call it layer investing.  A single idea is implemented by selecting the best country, the best industry, the best company, the best event and finally, the best asset class.  All for one and only one idea.  Holisticly, completely and utterly unconstrained.  And we repeat this process over and over, again and again for all of our investment positions in the portfolio such that we always have the best portfolio possible to the best of our capabilities without any compromise of only-if.

Welcome to layer investing at HDH.