Actual investors think in decades. Not quarters.

Transformational growth companies such as Amazon and Tencent are rare. Finding them requires patience and resolve. Yet many investors think they can find them based on short-term trading patterns and believe decisions can be made by computer algorithms.

What really matters is change in the real world. Investing can’t be reduced to neat formulas such as the Capital Asset Pricing Model, which so widely underpins the investment industry. Investing is not about confusing everyone about alpha, beta, factor exposures and high-frequency trading. It is the deliberate, imaginative act of directing your capital to new ideas and new business models that provide people with better, cheaper or completely new ways of meeting their needs and wants.

That’s what we focus on, and that’s why we build strong relationships with the companies actually doing it.

Some investors might be able to predict fleeting market fluctuations, but it’s not a skill Baillie Gifford offers.

We have no idea what stock markets will do in the next three, six or 12 months or how a company’s share price will perform day-to-day.

In a market dominated by short-term speculators, investors set prices trying to anticipate what their competitors will do next.

In the short run, a listed company’s value has only a very loose connection to its fundamental progress. In the long run, it’s all that matters.

We believe investing is more art than science. The creative part lies in anticipating change at the company, industry, society and individual level.

Actual investors know some of the companies we back will not succeed. Balance comes from the asymmetric nature of returns: gains can be manyfold, but losses are limited to what you invest.

We think in terms of decades because it’s only over longer periods that a clear picture emerges.

Opportunities emerge from technological progress or new business models. By building relationships with the management of the most forward-thinking companies, we can understand what is becoming possible.

Companies that grasp opportunities and can build their profits, particularly those with economies of scale and price-setting power, have the best chance of being excellent long-term investments. Our approach also helps us to understand which companies may be most threatened by disruption.

Actual investors should be looking for businesses capable of sustaining progress over decades.

We consider the size of the opportunity, adaptability, quality, competitive advantage and commitment of management – founder-managers often score highly.

Understanding the intrinsic qualities of a business and the world in which it competes makes it easier to make predictions over 10 years. That’s far more important than what happens over a few quarters.

Please remember that all investment strategies have the potential for profit and loss and your or your clients’ capital may be at risk.
 
The information on this Website is issued by Baillie Gifford Asia (Hong Kong) Limited 柏基亞洲(香港)有限公司 (the “Company”) which is licensed by the Securities and Futures Commission of Hong Kong (the “SFC”) under the Securities and Futures Ordinance (“SFO”) for Type 1 (Dealing in Securities) regulated activity with CE Number BGB803. It allows the Company to market and distribute the Baillie Gifford’s range of collective investment schemes to Professional Investors (as defined by the SFO) in Hong Kong.
 
The information contained in this website has been compiled with considerable care to ensure its accuracy at the date of publication. However, no representation or warranty, express or implied, is made to its accuracy or completeness. Nothing in this information or elsewhere in this website shall exclude, limit or restrict our duties and liabilities to you under the SFO or any conduct of business rules which we are bound to comply with. The information on this website has not been reviewed by the SFC. These Terms and any non-contractual obligations arising from or connected with them shall be governed by, and these Terms shall be construed in accordance with, the laws of Hong Kong.
 
This website is informative only and the information provided should not be considered as investment or other advice or a recommendation or offer to buy, sell or hold a particular investment. You can read details of our Legal and Important Information here. Please remember that all investment strategies have the potential for profit and loss and your or your clients’ capital may be at risk.
 
This website does not collect personal information. "Cookies" may be stored on your computer for easy navigation. A "cookie" does not allow us to identify you, but stores information about navigation through our website (such as pages already visited, time and date of visit) which we can remember during the user's next visit to our website in order to improve your browsing experience. If you have any enquiries in relation to our data protection policies and procedures, this Website or the information on it, please click here to contact Baillie Gifford.
 
Baillie Gifford Asia (Hong Kong) Limited 柏基亞洲(香港)有限公司 is incorporated in Hong Kong.  The Company’s principal place of business is Suites 2713-2715 Two International Finance Centre, 8 Finance Street, Central, Hong Kong . Baillie Gifford Asia (Hong Kong) Limited 柏基亞洲(香港)有限公司 is a wholly owned subsidiary of Baillie Gifford Overseas Limited, which is wholly owned by Baillie Gifford & Co. Baillie Gifford Overseas Limited and Baillie Gifford & Co are authorised and regulated in the UK by the Financial Conduct Authority.

Any stock examples, or images, used on this website are not intended to represent recommendations to buy or sell, neither is it implied that they will prove profitable in the future. It is not known whether they will feature in any future portfolio produced by us.