We invest in Value

At Cobas Asset Management we are faithful to our value investment philosophy, based on buying companies at a price below their intrinsic value and always with a long-term vision.

Higher value

Competitive advantages
Entry barriers
Hidden assets

Lower price

Inefficient market
Old-fashion
Little tracking

Analysis + Selection + Patience = Best Returns

Analysis

We spend time analysing listed companies, taking an in-depth look at their competitive edge and the quality and durability of their business, until ascertaining their true value.

Selection

We invest in undervalued shares in businesses that are easy to understand and provide sustainable high returns at a lower price than their intrinsic value would warrant, i.e., we give ourselves a wide safety margin.

Patience

On the strength of careful analysis, accurate valuation and cautious selection, time works in our favour. We wait for as long as necessary until the quoted market price finally recognises the true value of the companies we invest in.

Faithful to our strong views

We continue to buy undervalued assets to preserve the long-term purchasing power of our investors’ savings. We do not try to predict short-term shifts in the market, which are as unpredictable as the people who populate them. Rather, we look to the long-term performance of the assets we are interested in.

We continue to buy undervalued assets to preserve the long-term purchasing power of our investors’ savings. We do not try to predict short-term shifts in the market, which are as unpredictable as the people who populate them. Rather, we look to the long-term performance of the assets we are interested in.

Patiently going against the current

A willingness to do the opposite of what the market suggests is our main hallmark. That’s why we buy what no one seems to want, and sell what everyone wants to buy. Because we have a very clear focus. Our main strength is patience. We wait until our investments reach the target values. Because we analyse a company as if we were about to buy it. If the analysis checks out, we go ahead and invest.

A willingness to do the opposite of what the market suggests is our main hallmark. That’s why we buy what no one seems to want, and sell what everyone wants to buy. Because we have a very clear focus. Our main strength is patience. We wait until our investments reach the target values. Because we analyse a company as if we were about to buy it. If the analysis checks out, we go ahead and invest.

Volatility is opportunity

Volatility is not really a risk for us. Volatility creates great opportunities; risk involves a permanent capital loss. We think that the higher the volatility the better return we shall achieve over the long term.

Our performance does not depend on our work alone: it also depends on the irrationality of other market players.

Volatility is not really a risk for us. Volatility creates great opportunities; risk involves a permanent capital loss. We think that the higher the volatility the better return we shall achieve over the long term.

Our performance does not depend on our work alone: it also depends on the irrationality of other market players.

What is our investment philosophy?

What is our investment philosophy?

We start again to remain the same, because we are backed by more than 30 years managing savings in a solid, patient and recognized way. This is the great asset of Cobas Asset Management, combined with hard work, knowledge and total independence in selecting investments.

Our only commitment is to remain faithful to the ‘value’ doctrine: analysis, selection of quality companies at a good price and patiently awaiting their appreciation.

We start again to remain the same, because we are backed by more than 30 years managing savings in a solid, patient and recognized way. This is the great asset of Cobas Asset Management, combined with hard work, knowledge and total independence in selecting investments.

Our only commitment is to remain faithful to the ‘value’ doctrine: analysis, selection of quality companies at a good price and patiently awaiting their appreciation.

Our values

  • Independence

    Contrasted independent analysis to select the best undervalued companies.

  • Rigor

    Rigorous and sensible process to take advantage of the market opportunities

  • Knowledge

    Consistent process that strengthens the specific notions to determine the optimal value of assets when investing.

  • Talent

    Manage savers' money sensibly in the long term, whatever their capital.

  • Experience

    30 years of proven experience in providing a sustainable return on our investors' savings

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