Jan Hummel - Deep Diligence at Paradigm Capital

Value Investing with Legends

In this episode, Tano Santos sits down with Jan Hummel, CIO of Paradigm Capital, revisiting his investment strategies and exploring the nuanced dimensions of risk management in the evolving European asset landscape. Jan discusses the foundational investment philosophy of Paradigm Capital, emphasizing risk minimization and the strategic deployment of assets across Europe. Key discussions pivot around the firm's selective investment criteria, focusing on companies in the small to mid-cap space and the significance of geographical and cultural nuances in their investment decisions. This conversation offers listeners insights into the subtleties of value investing, portfolio construction, the implications of geopolitical and economic dynamics on market opportunities, and so much more!

Key Topics:

• Introduction and background of Jan Hummel (0:37)
• Fundamental tenets of investment philosophy at Paradigm Capital (1:25)
• The impact of European market dynamics on investment strategies (7:25)
• Sourcing and valuing investment opportunities (9:47)
• Specific approaches to risk management and hedging strategies (22:23)
• Portfolio sizing and the decision-making process behind exiting investments (26:00)
• The role of geographical focus in Paradigm's investment strategy (29:12)
• Valuation techniques and practical applications in portfolio management (32:03)
• Trends and challenges in the European asset management industry (36:48)
• Macro-economic factors influencing market conditions and investment decisions (40:30)
• Prospects for growth and opportunities in the European financial landscape (45:17)
• Jan’s book recommendations (46:06)
• And much more!

Mentioned in this Episode:

• The Fiscal Theory of the Price Level by John Cochrane
• Paradigm Capital
• Columbia Business School

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