Origo

A framework for understanding how returns are generated through allocation, sizing, and discipline Introduction Most investors focus on ideas. They analyse companies, search for mispricing, and attempt to identify opportunities. While this is an important part of investing, it is not what ultimately determines outcomes. In practice, returns are shaped less by what is selected and more by how capital is allocated, structured, and managed over time. The difference between strong and weak performance is rarely informational. It is structural. Understanding what drives outcomes is the starting point for disciplined capital allocation. The Dominance of Asset Allocation The foundation…

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