Notes on the sectors, markets, and reasoning behind how we invest — written in-house, grounded in sourced data.
The gap between writing a cheque and being a useful owner is where most of the value — and most of the risk — actually lives.
Read the piece→Demographics and need don't ask permission from the business cycle — which is what makes healthcare such a useful anchor in a diversified book.
Read→Every cycle produces a new reason to overpay for technology. A long-term owner needs a way to tell durable advantage from a passing narrative.
Read→FDI into the UAE grew nearly 49% in a single year. What the composition behind that number tells us about the durability of the growth.
Read→42% of UAE drinking water already comes from desalination. The next wave of investment isn't about building more capacity — it's about making it cleaner.
Read→Two words that pull in different directions on purpose, and the test we apply to make sure neither one wins out.
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