Introducting R4A, A Revolutionary Portfolio Construction Tool
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Lumen Advisors is an alternative asset management company based in San Francisco investing in global markets and has been re-established in 2019 as Lumen Global Investments LLC, an investment manager and InvestTech (please visit us at www.lumenglobalinv.com).
The firm’s 3 Investment Principals are veteran global macro managers with sovereign credit roots and complementary skills across global asset classes and capital structures.
Our investment philosophy is predicated on three key and basic principles:
Active Management: We operate exclusively in inefficient global markets without the limitation and contradiction of a benchmark other than absolute return.
Value Investment in the Benjamin Graham tradition: Our scope is to identify value with a margin of safety large enough to make our capacity to methodologically and accurately forecast the future – – futile.
Hedged Investment in the Alfred Winslow Jones tradition: We use leverage to hedge directional risk in the portfolio by shorting overvalued markets and paying for this cost by leveraging undervalued markets. i.e., we leverage our capacity to identify value, not the capital of the Fund.
Lumen’s investment approach is value-based as the Principals strongly believe value trumps any other investment style over the investment cycle, particularly in inefficient markets (e.g. emerging, irrational markets). Our objective is to identify value with a margin of safety large enough to make the capacity to methodologically and accurately forecast the future totally futile. We adopt relative value strategies to manage directional risk and produce a low beta, with minimal correlation with major benchmarks. Our intrinsic value approach uncovers deep value, bottom-up positions, and special situations where we have strong convictions and in-depth knowledge, thus producing a fairly concentrated portfolio.
Learn more about us at Lumen Global Investments.
Find out more about R4A, our Next-Gen digital investment solution.
“Successful, value-based investment strategies must integrate traditional bottom-up analyses with an objective, quantitatively defined Global Value Framework.“
Latest Research Paper
Simon Nocera: Portfolio Construction and Global Asset Allocation: A Practitioner Solution to a Black-Litterman Flaw
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