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...