Independent equity research
who we are and what we do
BJI provides high conviction investment ideas on listed equities to institutional clients and high net worth individuals through our annual research subscription. We conduct fundamental bottom-up research on businesses that we believe trade to a discount against their intrinsic value with a wide margin of safety. Our aim is to generate investment ideas capable of long-term sustainable returns on capital. Our research is based on the following principles:
Independent ideas that are based on our own detailed research on businesses we understand. We are not commissioned or compensated by companies that are the subject of reports.
Intrinsic value is our calculation of the business based on the cash we expect the business to return to its owners over the future, discounted at an appropriate rate.
Margin of safety is a vital part of our philosophy. It’s the gap between the market value of a company and our perception of intrinsic value. All attempts of understanding intrinsic value rely on assumptions that can’t be perfectly forecast. Significant margin of safety is the logic that minimises losses if intrinsic value has been overestimated, while allowing for greater than expected returns if underestimated
Value is what our research seeks to uncover and provide to our clients.
who we have covered so far in 2024
who we covered in 2023
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