Quality focus. Our investment strategy is predominantly driven by a desire to own high-quality assets such as resilient and highly profitable publicly listed businesses, prime location residential real estate, and cultivating advantageous relationships to finance law firms that have an outstanding track record in litigation.

Owner’s mindset. Why do investors value immediate gains over long-term rewards, even when immediate gains are smaller? Economists call this hyperbolic discounting and it’s something we want to avoid. Tiho adopts a business owner’s mindset, by sacrificing immediate gains in favour of long-term, life-changing rewards. After all, all the returns in life — whether in wealth, relationships, or knowledge — come from compound interest. (Naval Ravikant).

Keep it simple. An overwhelming majority of investors would do much better if they kept investing as simple as possible, rather than entertain complicated execution and exotic asset classes. A cornerstone of Tiho’s mandate is the uncompromising discipline to make everything as simple as possible, but not simpler. (Albert Einstein)

Extreme patience. Decades of investment research have provided us with indisputable evidence: clients who achieved the strongest returns are those who either forgot their login password or happen to be deceased without the bank’s knowledge. Holding quality assets with extreme patience is every investor’s main edge. Time is the friend of the wonderful business, the enemy of the mediocre. (Warren Buffet)

Avoiding mistakes. The strategy is heavily influenced by subtractive thinking and mistake-proofing. While others are focused on what trendy investment to buy next, we are asking what do we want to avoid? What could be the second and third-order unintended consequences? Meticulous due diligence and a thorough checklist process help prevent errors of omission. Invert, always invert. (Carl Jacobi)

Psychological edge. Many investors are analytically gifted and hold deep expertise in their field. Yet their performance is lacklustre at best and outright disappointing at worst. Why? They often fall victim to various blind spots, mental shortcuts, inductive extrapolation, cognitive biases, and various fallacies. Fighting foolishness and folly is a psychological edge every investor should aspire towards.

Margin of safety. Even the greatest investors make mistakes from time to time. What does that say about the rest of us? The obvious thing to do is demand an ample margin of safety for every single investment we plan on participating in. Therefore, even if we happen to get it wrong, we have favourable odds of protecting our principal and avoiding permanent loss of capital.

Opportunistic investing. We employ a very flexible and globally-focused mandate, investing in both public and private assets. Tiho has always been an opportunistic investor, looking for anomalies that deliver asymmetric payoffs: heads we have a meaningful win, tails we don’t lose much due to our margin of safety.

Alignment of interests. Tiho is an advocate of the “skin in the game” principle and in clear opposition to the principal-agent problem that is deeply entrenched in the finance industry. He invests his own capital alongside his clients in every single opportunity, with the majority of his net worth on the line.

Long-term relationships. Building long-term relationships can only be achieved by starting off on the right foot. Tiho prides himself on outright transparency, integrity, extremely low fees, and alignment of interests. Additionally, meaningful time is spent every month with each client to inform, educate, and mentor their decision-making process. Clear communication is an integral part of achieving financial goals.