Research Philosophy
Execution Noble's research philosophy is as simple as it is distinctive: to produce fundamental, objective ideas, informed by primary data. Our analysts are encouraged to be independently minded, continually challenging and questioning the consensus.
Fundamental
Our research asks fundamental questions about corporate business models. Do they have distinctive competitive advantages? How susceptible are they to changes in the economic cycle? Is their capital structure appropriate? These are amongst the factors which determine profitability and share price performance of companies over the long term. Crucially, we inform our view of company-specific strengths through the ise of primary data (customers, suppliers, competitors) and avoid over-reliance on management comment.
Objective
We tell it as we see it, continually questioning the consensus and market view. We are comfortable taking a contrarian stance, and do not shy away from critical assessments of companies. Our sole aim is to help clients make better investment decisions.
Ideas
We produce decisive, rigorous analysis rather than the aimless, descriptive prose so often found in sell-side research. Moreover, we recognise the time pressures on our clients, and do not write company notes of more than 12 pages. We use Hold recommendations sparingly, and encourage analysts to concentrate on higher conviction, money-making ideas, with an appropriate balance of Buy and Sell calls.
