A survival of the fittest approach

Mark Costar, manager of the recently-launched JO Hambro UK Growth fund, does not believe in having a large backroom team, graduate trainees preparing 'doorstep size pieces of research' or buying in expensive research which is often not of much use. Meeting with companies and using the knowledge of other fund managers at JO Hambro is a more productive way of gathering information about stocks and the wider economy, he said. Costar believes selling stocks is one of the most important and underestimated skills of fund management. He employs a ruthless sell discipline, describing his proc...