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GuruFocus interview: The Long-Term Vision of Horos Asset Management

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Horos Asset management was founded in May 2018. It currently manages 50 million euros. It tries to invest in companies that ideally comply with five investing principles: businesses that it can understand, with competitive advantages and strong financial profile, managed by good capital allocators and with an attractive margin of safety.

Javier Ruiz, Alejandro Martín and Miguel Rodríguez are the managers of Horos Value International fund. They have worked together for the last seven years and in that period they have produced an outperforming record (12.4% per year vs 11.8% for the benchmark).

Javier Ruiz was very kind to share their long-term vision, in a worldwide investment universe but with a focus in downside protection.

https://www.gurufocus.com/news/904068/interview-the-longterm-vision-of-horos-asset-management

 

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Last publications

2024 Letters to co-investors

Letter to our co-investors 2Q24

Dear co-investor, After wrapping up the second quarter of 2024, we can highlight few new developments in financial markets. The reality is that the euphoric dynamics in the technology sector persist, to a greater or lesser extent, pushing the U.S. stock market to new highs and helping this market to continue outperforming most other regions. This letter will focus on the potential unsustainability of this and the importance of investing with a high margin of safety.

September 23, 2024
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2024 Letters to co-investors

Letter to our co-investors 1Q24

Dear co-investor, The start of 2024 has once again been very positive for global equities, continuing the excellent performance already shown in 2023. Our Horos Value Internacional and Horos Value Iberia funds have been part of this trend, posting returns of 5.9% and 1.1%, respectively.

May 24, 2024
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2023 Letters to co-investors

Letter to our co-investors 4Q23

Dear co-investor, First of all, I would like to take this opportunity to wish you all the best for the new year. We concluded 2023 with two reasons for celebration.

February 13, 2024
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2023 Letters to co-investors

Letter to our co-investors 3Q23

Dear co-investor, This quarter, the management team formed by Alejandro, Miguel and myself is celebrating eleven years working in the complex and fascinating world of investing. A period in which we have remained faithful to the same investment principles and in which we have always managed two strategies: international and Iberian equities. In these eleven years we have delivered c

October 23, 2023
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2023 Letters to co-investors

Letter to our co-investors 2Q23

Dear co-investor, These are good times for Horos because, at this moment, almost all of our more than 3,000 clients have positive returns with their investments in our funds and pension plan. A milestone that shows that our investment process continues to bear fruit, as is also reflected in the 236% and 185% total returns that this management team has

August 7, 2023
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