Expecting Value is a predominantly UK-focused value investing blog. Value investing is a term which covers a lot of ground depending on who you talk to, but – to give you a feel for my investing style – I particularly like looking at high-quality compounders at reasonable prices at one end of the spectrum and super beaten-down asset plays at the other.

I work in a small London hedge fund focused on global micro and small-caps, and am an economist by degree, though not by nature or talent!

Catch me on Twitter at ExpectingValue.


I started this blog in 2011 after finishing a placement at Deutsche Bank in economics. Economics was interesting – and the focus of my academic life – but I found myself more interested in the equity side of things. Cue some background research, involving some heavy reading of blogs, and a first post on June the 1st.

Since then I’ve completed a degree in economics, slightly expanded the realms of my rather limited circle of competence, and now work in the industry, which has proven to be a pretty neat continuation of my aim of the blog. I analyse stocks, I try to understand businesses, and I make a value call on whether or not the current price provides an attractive valuation.

I still invest personally as well as professionally. My long-term goal is to earn 20% per annum, through the cycle. If you’re raising an eyebrow at that, you’re probably reasonable to do so; but my long-held belief is that indexes (the implicit comparison most people will have made to my target figure) are grounding and self-justifying benchmarks. I think and hope that the market is inefficient enough for me to pick only the finest stocks, like a Michelin investor, based on bottom-up analysis.

The danger, of course, is that I end up more greasy spoon than haute cuisine.

C’est la vie.