EIPAF - Donville Kent Asset Management June 2025 Commentary
2025-06-15 22:05:00 ET
Luck vs. System
Since our l ast monthly commentary , the tariff headlines have made a comeback. We haven’t fundamentally changed our outlook on the market and investment strategy in a market like this. Our focus remains on knowledge-based industries. The majority of our investments aren’t selling physical products. Instead, they are providing a service, like software, surveillance, power, financing, etc. These business models make the tariffs, cross provincial trade, and international trade all much easier issues to deal with. We still wouldn’t be comfortable investing in companies directly exposed to tariffs because how do you value a business without knowing what its expenses are going to be?...
Donville Kent Asset Management June 2025 Commentary