Horizon Kinetics: Value Investing in Long Product Lifecycle Companies

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Horizon Kinetics: Value Investing in Long Product Lifecycle Companies

Horizon Kinetics: Value Investing in Long Product Lifecycle Companies

Horizon Kinetics May commentary Long Product Lifecycle: A Predictive Attribute

Regular readers are familiar by now with Horizon Kinetics’ focus on qualitative attributes that may be predictive of out performance. Consistent with the Firm’s long-term value investing philosophy, identification of these traits has been central to our research and investing process since the inception of the Firm. Fundamental research is generally required to identify these characteristics. This is a time-intensive process, which contrasts with the quantitative screens that can be used to identify groups of stocks with similar price to earnings ratios or sector classifications. However, the long-term performance of companies described by these predictive attributes suggests that the effort is worthwhile. Recent commentaries have highlighted owner-operators, dormant assets, spin-offs, bits & pieces, and scalability. This month’s discussion will center around long product lifecycles.

Consistency is what makes the top 50 best-performing hedge funds so strong

Every month and quarter, multiple reports on average hedge fund returns are released from several sources. However, it can be difficult to sift through the many returns to uncover the most consistent hedge funds. The good news is that Eric Uhlfelder recently released his "2022 Survey of the Top 50 Hedge Funds," which ranks the Read More

Horizon Kinetics full May letter embedded below

May 2013 Commentary Long Product Lifecycle by ValueWalk.com

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