Investment Philosophy
The investment philosophy of the Intrinsic Fund combines three core elements
The three core elements are made up of my own intrinsic motivation, the intrinsic motivation of the companies and the intrinsic value of a company. The overlap of these three dimensions represents the investment universe for the Intrinsic Fund.
My intrinsic motivation
I am convinced that better results are achieved when people have an intrinsic motivation to do something. They fulfill a task not only out of duty, but because they feel an inner drive. For me, investing is an expression of this inner drive – the result of a multitude of passions that fulfill me. My greatest passion is continuous learning: new information inspires me in many different areas of my life. This is the source of my joy in getting to know entrepreneurs, understanding products and business models and assessing the operational development of companies. The search for new insights takes me to many countries to discover local cultures, intrinsically motivated entrepreneurs and promising business models.
The intrinsic motivation of a business
I also specifically look for entrepreneurs who follow their own intrinsic motivation and want to build a company from this drive in the long term. In my view, investments in such entrepreneurial personalities are the most likely to create value. Their inner drive ensures that their goals and our long-term thinking as investors are naturally aligned.
The intrinsic value of a company
For an investment to be successful in the long term, the price paid must be significantly below the intrinsic value of the company. When we buy a share, we are not acquiring an abstract accounting entry, but a share in a living company. The intrinsic value of this company results from the future profits, discounted to the present day. The aim of my research is to assess whether these company shares can be acquired at a price that enables an attractive long-term return.
The investment philosophy of the Intrinsic Fund combines three core elements
The three core elements are made up of my own intrinsic motivation, the intrinsic motivation of the companies and the intrinsic value of a company. The overlap of these three dimensions represents the investment universe for the Intrinsic Fund.
My intrinsic motivation
I am convinced that better results are achieved when people have an intrinsic motivation to do something. They fulfill a task not only out of duty, but because they feel an inner drive. For me, investing is an expression of this inner drive – the result of a multitude of passions that fulfill me. My greatest passion is continuous learning: new information inspires me in many different areas of my life. This is the source of my joy in getting to know entrepreneurs, understanding products and business models and assessing the operational development of companies. The search for new insights takes me to many countries to discover local cultures, intrinsically motivated entrepreneurs and promising business models.
The intrinsic motivation of a business
I also specifically look for entrepreneurs who follow their own intrinsic motivation and want to build a company from this drive in the long term. In my view, investments in such entrepreneurial personalities are the most likely to create value. Their inner drive ensures that their goals and our long-term thinking as investors are naturally aligned.
The intrinsic value of a company
For an investment to be successful in the long term, the price paid must be significantly below the intrinsic value of the company. When we buy a share, we are not acquiring an abstract accounting entry, but a share in a living company. The intrinsic value of this company results from the future profits, discounted to the present day. The aim of my research is to assess whether these company shares can be acquired at a price that enables an attractive long-term return.