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Ethics, rigor and focus are our founding virtues. |
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Low risk investment model. |
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Advisory fee is strictly performance based. |
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Aggressive hurdle rate with high water mark operation. |
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No speculative or leveraged investments. |
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Crescendo provides Indian equity investment advisory services to its clients comprising high net worth individuals, corporations and institutional investors with a target to generate above-average returns over a period of time.
We will continuously strive to achieve above-average positive returns for our clients in absolute terms, and not relative to BSE Sensex or any other benchmark index. Our objective is to, over the long haul, achieve investment returns that exceed the term deposit (fixed deposit) rates* in India plus 10 percentage points on an annualized basis.
When we advice on an equity investment, we view it as more than just a financial trade. We view it as an ownership in that business enterprise with a realization that the enterprise or its stock price will not react to our reasoning overnight or within a fortnight or even six months. We are value advisors and not short-term speculators.
Our advice is focused on identifying companies that trade significantly below our estimate of their intrinsic value and are run by competent and shareholder-friendly management. We believe that such a strategy of buying companies for less than their intrinsic worth will not only provide a downside protection to the investment amount but also will provide significant returns to our clients over a period of time as the market recognizes the company’s true worth.
Further, it is our belief that such investment ideology coupled with the ‘power of compounding’ has the potential to generate significant wealth creation for our clients over the long haul.
We believe that the stock markets follow the 80/20 rule wherein 80% of the investors trade in 20% of the stocks. This continuously provides us opportunities to discover hidden gems that are overlooked by the broader market.
Our advice to buy stocks is based on the bottom-up investing methodology wherein we focus on the analysis of individual stocks and we subsequently advice a sell when the stocks reach our appraisal value.
While we actively and closely track stocks in the small to small-mid cap range and have developed competence here, however, this is not a limiting factor and we are always watchful for identifying bargains in the large-mid cap to large-cap range that meet our investment criteria.
* - Reference to One-year term deposit interest rates offered by State Bank of India, India’s largest nationalized bank, and can be viewed at www.statebankofindia.com/user.htm
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