Global equities, Château Screwtop and a nose for opportunity

As we should all appreciate by now, markets are inherently irrational. That's what allows investors to make money from them. Human emotions repeatedly sow the seeds of opportunity.  This is why any investor who wants to beat the market has to accept their own view is seldom of paramount importance in the great scheme of things. More often than not, what really matters is everyone else's view.  It helps enormously, of course, if everyone else's view is mistaken. In the sphere of global equities, where our fund invests, this propitious situation frequently stems from behavioural biases ...