Former Fidelity and Och-Ziff man Dickson has almost
completed a year with his new DCM venture - and the track
record in a savage period for equities is racking up well
Drew Dickson, founder of Dickson Capital Management, strives
to formulate a view of European equities that is out of step
with the consensus. But he does not believe that it is right to
call him a contrarian investor.
Dickson's philosophy of how to generate alpha, formulated
over more than a decade of intensively analysing western
European companies, is perhaps best summed up in an excerpt
from DCM's latest quarterly letter to investors.
"We need to anticipate what the consensus investor thinks
fundamentals might look like in our time horizon, and identify
opportunities where our view is different," Dickson wrote to
investors in the firm's DCM Alpha Europe fund.
"This investment process naturally yields investment ideas
which aren't common...