The Obliquity Portfolios are stock portfolios managed using a methodology inspired by John Kay‘s obliquity principle, which states that complex objectives are better achieved through indirect routes.
Portfolio stocks are selected using a set of qualitative criterion used to identify companies that are thought to have a chance to be long term sustainable, are suitable for buy-and-hold, with a low volatility bias.
Turnover is very low, because in essence this strategy is price-insensitive: it aims to find stocks that are on average permanently a bit cheaper than they should be, which is where the obliquity comes in: most investors are focused on the harder task of finding punctually good entry or exit prices.
Performance and holdings, based on the real money I invest according to this methodology, are documented on these pages in the spirit of open source.
The following portfolios are being published:
A world equity portfolio composed of between 50 and 100 large and mid cap stocks with an international outlook. Based on a sterling account, they are primarily London-listed, with some US exposure and a sparkling of continental European equities. It is benchmarked against a broad world equity index.
This is a small collection of quirky small caps that are listed in London, including some pure UK companies, but still often with an international outlook.
Obliquity Bonsai (closed 2016)
A short-lived experiment, focusing on Japanese large cap.
Disclaimer: This is not investment advice. Anyone following what I’m doing, partially or totally, does it at their own risk. Stock market investments can go up and down, especially down.
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