new sub holder , page-5

Just a quick precis of Wellington Capital:

Our investment philosophy is that stock markets are hyper-efficient at times, overreacting to both positive and negative information in the short term and thus creating opportunities for long-term investors. We utilize a contrarian approach focused on longer-term fundamentals.

By focusing on solid companies that we believe are only temporarily out-of-favor, we expect this "value gap" (better growth and higher yield at a discount to the market) to narrow over time and enhance our opportunity to outperform the market. Our substantial investment in global research resources and the disciplines of our investment process underlie our ability to understand companies and their respective global industries, and to add value by discerning temporary events from permanent reductions in value.


The first para is also my investment approach and I know of these guys from another of my preferred investments (where they are also substantial holders), KAR. They do like to play around though so we could see them sell down to just under 5% and realise a 20-30% profit on some of their holdings. They've done this with KAR repeatedly (sell a little of the stake only to buy back later) and if you ignore the ST buying/selling fluxuations they tend to hang around for a while. Another sign that PRU remains a screaming buy!