Evidence
The Founder Effect: China and Hong Kong 2026
Founder-led China A-shares returned 13.75% a year from 2020 to 2026 against 0.63% for the China all-cap index. Hong Kong went the other way.
Methodology
Evidence
The Founder Effect: Annual Report 2026
Founder-led companies returned 17.10% a year from 2016 to 2026 against 13.53% for the benchmark, with higher volatility and a deeper drawdown.
Methodology
Applying a capital allocator's mindset to business success in the resources industry
Mining CEO tenure averaged 4.4 years from 2010-2019 while a greenfield development takes 15. Australian LTIs are 36% of CEO pay against 75% in America.
Methodology
Which sectors are founder-led companies most common in?
The wrong question. Capital efficiency, not sector, is what identifies quality founder-led companies, and it works even in industries as dull as drinks.
Methodology
How to build a portfolio of founder-led companies
A portfolio construction framework built on founder ownership, and why volatility and risk are not the same thing.
Methodology
The Art of Selling
Institutional investors fail to beat a random selling strategy. A framework for deciding when to exit a founder-led position.
Methodology
Searching for the source of alpha
Where outperformance actually comes from in founder-led companies, including the evidence on second-generation founders and smaller companies.
Methodology
Avoid the acronyms and go for hidden niches
By the time companies have made it into an acronym, it is too late. Where the non-obvious opportunities sit in specialist manufacturing and hardware.
Methodology
Data: a different way to discover quality companies
Australian investors hold 66.5% of their portfolios in Australian shares, which are 2% of the world market. A method for screening the other 98%.