JMX Capital GmbH identifies great companies trading below fair value. These „capital market truffles“ are rare and warrant high portfolio concentrations when time is right.
The following criteria make a firm a „truffle“:
– structural, hard to replicate competitive advantages
– sufficient visibility regarding changes in business landscape
– able and honest management teams
– undervaluation by capital markets
JMX Capital GmbH conducts in-depth fundamental research to identify undervaluation. Frequently, undervaluation becomes apparent because JMX Capital GmbH enjoys the privilege to work with clients who have an unconventionally long investment time horizon. Many firms in the JMX Capital GmbH universe enjoy structural and long-term growth dynamics.