Dear Reader,
As social creatures, we tend to embrace an idea not because we know it to be true, but because everyone else seems to believe it. There is comfort in consensus. Without it, we might never agree on anything, and harmony would be hard to find. Yet in investing, it is precisely by stepping away from this harmony, and relentlessly pursuing the full truth, that exceptional, market-beating returns are made.
The most rewarding ideas are often contrarian ones, and they tend to become attractive at turning points: the moment a new trend begins or an old one fades. Recognizing these turning points can be viewed as the holy grail of investing, as this is where the highest returns in a short timeframe can be made. At AozoraStep Capital, we seek them by aligning the macro picture with the micro details over a six-month investment horizon. Guided by a commitment to the numbers, cutting out the noise, and often by contrarian thinking, our aim remains the same: to deliver outstanding returns.
"Aozora" is Japanese and means blue sky. AozoraStep hence translates into "step into blue sky".
David Herrmann
Founder & Managing Partner
