Long Short Equity Management with Richard Stuckey of Ennismore
Have you ever wondered how fund managers deliver a successful long-short strategy?
David Seaman of Alpha Cygni Investment Management recently joined me for a conversation with Richard Stuckey, the manager of the Ennismore Global Equity Fund, about managing such a strategy in smaller global companies.
In this fascinating chat, Richard discusses different approaches to shorting equities and how they involve different approaches to risk management at the stock and portfolio levels. He outlines a couple of examples of stocks he and his team have successfully shorted that turned out to be deceptions.
We then discuss two long positions he recently added to his portfolio. Genus, a UK–listed animal genetics company, Genus and Paradox Interactive, a Scandinavian-listed games publisher
Richard then discusses the geographic spread of his fund and how to think about market inefficiency driven by the rise of the mega-cap tech stocks, passive investment and meme-driven markets.
And… importantly, how to adapt investment strategy in a market that can remain inefficient for a long time.
This is a masterclass in the often counterintuitive art of managing an absolute return strategy in a volatile and illiquid asset class.
While not for everyone, it can offer downside protection in choppy markets while providing long-term exposure to quality compounding equities.
I must remind you that this is only for information purposes and is NOT investment advice. The views expressed in the podcast are personal to the contributors and do not represent Progressive Equity's views.
Please enjoy our conversation with Richard Stuckey.
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