Frank Martin of Hummingbird Partners on Cyclical InvestingRupert Hargreaves
This month’s issue of Value Investor Insight contains an interesting interview with Frank Martin of Hummingbird Partners.
Since his Martin Capital Management embraced equity investing in 2000, Frank Martin has achieved a truly impressive record of outperformance. His firm’s equity composite has beaten the S&P 500 by some 700 basis points per year since inception. However, thanks to his cautious stance, Martin has underperformed. Throughout the period he has only been 30% to 70% invested.