01Research that goes beyond the headline
The most important work in investment research rarely happens at the moment a decision is made. It happens in the days and weeks before — in the careful reading of a company's fundamentals, the honest examination of a sector's direction, and the disciplined effort to distinguish a meaningful signal from a temporary disturbance. This is where independent investors can build a genuine edge: not through privileged access, but through the quality of their thinking.
The articles in this section are written for investors who take that process seriously. Each piece focuses on a specific aspect of research practice — how to read a market signal, how to stress-test a scenario, how to avoid the cognitive shortcuts that make a weak thesis feel stronger than it is. The aim is not to tell you what to think about any particular company or market. It is to help you think better about all of them.
We publish new material regularly, covering the research methods, analytical frameworks and decision disciplines that matter most to the independent private investor. If you want to be notified when new pieces are available, you can subscribe to our newsletter below. Everything here is intended to support your own research process — not to replace it.
02What a divergence between price and fundamentals might actually be telling you
When a company's share price moves in a direction that its underlying fundamentals do not obviously support, the temptation is to assume the market is wrong. Sometimes it is. More often, the divergence is pointing at something you have not yet fully accounted for — a shift in sentiment, a risk being priced in early, or an assumption in your own model that deserves a second look. This piece examines how to approach that kind of signal without rushing to a conclusion.
03Building a scenario that holds up under pressure
A scenario is only as useful as the assumptions it rests on. Many investors build scenarios that feel rigorous but are quietly circular — the conditions they define are the same ones their preferred outcome requires. This article looks at how to construct a scenario that genuinely tests your view, including the specific questions you should ask before you decide a scenario is complete.
04How volatility can distort the way you read a company's story
Periods of elevated market volatility have a way of making short-term price movements feel more significant than they are — and of making longer-term structural questions feel less urgent. For investors trying to assess a company's fundamentals during a volatile period, the challenge is maintaining the right analytical distance. This piece explores how to keep your research grounded when the market around you is not.
05Putting a single holding in the context of your broader portfolio
It is easy to research a company in isolation and reach a well-supported view — only to realise later that the position introduces a concentration of risk you already carry elsewhere. Thinking about a potential holding in the context of what you already own is not a constraint on good research; it is part of it. This article looks at the questions that help you see a single position within the larger picture.
06Reading a company announcement without being led by its framing
Company announcements are written with a purpose. The language chosen, the figures highlighted and the context provided are all editorial decisions made by people with an interest in how the news lands. That does not make announcements unreliable — but it does mean that reading them well requires a degree of active scepticism. This piece sets out a practical approach to extracting what matters from a company update without being guided entirely by its own narrative.
07The discipline of knowing when your research is actually finished
One of the less-discussed challenges in investment research is knowing when to stop. More information does not always produce a better decision — sometimes it produces a more complicated rationalisation of a view you had already formed. This article examines the signs that your research process has reached a genuine conclusion versus the signs that you are still looking for permission to act on a view you have already made up your mind about.