{"id":16588,"date":"2025-11-18T10:35:26","date_gmt":"2025-11-18T09:35:26","guid":{"rendered":"https:\/\/hqam.ch\/?page_id=16588"},"modified":"2026-09-02T17:45:42","modified_gmt":"2026-09-02T15:45:42","slug":"research","status":"publish","type":"page","link":"https:\/\/hqam.ch\/en\/research\/","title":{"rendered":"Research"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"16588\" class=\"elementor elementor-16588 elementor-14994\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c10b764 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"c10b764\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-97c711b\" data-id=\"97c711b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f6e7a51 elementor-widget elementor-widget-spacer\" data-id=\"f6e7a51\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-70eaacb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"70eaacb\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;jet_parallax_layout_list&quot;:[]}\" data-bg=\"gold\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cab2c6a\" data-id=\"cab2c6a\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0028cd7 elementor-widget elementor-widget-heading\" data-id=\"0028cd7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">RESEARCH<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-579fb93 elementor-widget elementor-widget-heading\" data-id=\"579fb93\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Conviction starts with independent analysis.<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-27d601d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"27d601d\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;jet_parallax_layout_list&quot;:[]}\" data-bg=\"gold\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-05d296a\" data-id=\"05d296a\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0280a30 elementor-widget elementor-widget-text-editor\" data-id=\"0280a30\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Our investment decisions are grounded in proprietary research and a deep understanding of the companies we invest in. We analyze business models, financial strength, competitive advantages and management \u2013 seeking to distinguish long-term value creation from short-term market expectations. <\/p><p data-start=\"1496\" data-end=\"1661\">We never consider quality in isolation. What matters is the combination of business strength, long-term potential and an attractive valuation. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d9bc2df elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"d9bc2df\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"elementor-element elementor-element-3372ffb e-flex e-con-boxed e-con e-parent\" data-id=\"3372ffb\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;jet_parallax_layout_list&quot;:[]}\" data-bg=\"gold\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-748fbfb e-con-full e-flex e-con e-child\" data-id=\"748fbfb\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c9be76 elementor-widget elementor-widget-heading\" data-id=\"4c9be76\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Our Investment Process<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3549eb7 elementor-widget elementor-widget-text-editor\" data-id=\"3549eb7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Every investment idea follows the same clearly defined process \u2013 from systematic screening and fundamental research to valuation, Investment Committee approval and ongoing monitoring.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-98f22c3 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"98f22c3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-99af7e6 elementor-widget__width-initial elementor-widget-tablet__width-inherit elementor-widget elementor-widget-image\" data-id=\"99af7e6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/hqam.ch\/wp-content\/uploads\/2026\/09\/CleanShot-2026-09-02-at-17.33.32@2x-1024x1024.png\" class=\"attachment-large size-large wp-image-16629\" alt=\"\" srcset=\"https:\/\/hqam.ch\/wp-content\/uploads\/2026\/09\/CleanShot-2026-09-02-at-17.33.32@2x-1024x1024.png 1024w, https:\/\/hqam.ch\/wp-content\/uploads\/2026\/09\/CleanShot-2026-09-02-at-17.33.32@2x-300x300.png 300w, https:\/\/hqam.ch\/wp-content\/uploads\/2026\/09\/CleanShot-2026-09-02-at-17.33.32@2x-150x150.png 150w, https:\/\/hqam.ch\/wp-content\/uploads\/2026\/09\/CleanShot-2026-09-02-at-17.33.32@2x-768x768.png 768w, https:\/\/hqam.ch\/wp-content\/uploads\/2026\/09\/CleanShot-2026-09-02-at-17.33.32@2x.png 1358w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-219c554 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"219c554\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3f010c7 elementor-widget elementor-widget-text-editor\" data-id=\"3f010c7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center\">Independent Research \u00b7 Disciplined Process \u00b7 Long-Term Perspective<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f8464f0 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"f8464f0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6d6ede2 elementor-widget elementor-widget-heading\" data-id=\"6d6ede2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Quality is in the details.<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cc6f7a9 elementor-widget elementor-widget-text-editor\" data-id=\"cc6f7a9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p data-start=\"292\" data-end=\"438\"><strong data-start=\"292\" data-end=\"314\">Financial Strength<\/strong><br data-start=\"314\" data-end=\"317\" \/>Strong balance sheets and sustainable financing provide resilience and the financial flexibility to pursue long-term opportunities.<\/p><p data-start=\"440\" data-end=\"566\"><strong data-start=\"440\" data-end=\"464\">Profitable Growth<\/strong><br data-start=\"464\" data-end=\"467\" \/>Long-term growth must create value \u2013 not simply increase revenue or expand the size of the business.<\/p><p data-start=\"568\" data-end=\"692\"><strong data-start=\"568\" data-end=\"591\">Competitive Advantages<\/strong><br data-start=\"591\" data-end=\"594\" \/>Strong market positions and sustainable competitive advantages help protect long-term earnings power.<\/p><p data-start=\"694\" data-end=\"842\"><strong data-start=\"694\" data-end=\"728\">Management &amp; Capital Allocation<\/strong><br data-start=\"728\" data-end=\"731\" \/>What matters is how responsibly and effectively management allocates the capital entrusted to the business.<\/p><p data-start=\"844\" data-end=\"1031\"><strong data-start=\"844\" data-end=\"857\">Valuation<\/strong><br data-start=\"857\" data-end=\"860\" \/>Even an exceptional company is not an attractive investment at any price. An attractive valuation provides return potential while offering a margin of safety. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>RESEARCH Conviction starts with independent analysis. Our investment decisions are grounded in proprietary research and a deep understanding of the companies we invest in. We analyze business models, financial strength, competitive advantages and management \u2013 seeking to distinguish long-term value creation from short-term market expectations. We never consider quality in isolation. What matters is the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"site-sidebar-layout":"no-sidebar","site-content-layout":"page-builder","ast-site-content-layout":"full-width-container","site-content-style":"unboxed","site-sidebar-style":"unboxed","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"class_list":["post-16588","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/hqam.ch\/en\/wp-json\/wp\/v2\/pages\/16588","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hqam.ch\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/hqam.ch\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/hqam.ch\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hqam.ch\/en\/wp-json\/wp\/v2\/comments?post=16588"}],"version-history":[{"count":10,"href":"https:\/\/hqam.ch\/en\/wp-json\/wp\/v2\/pages\/16588\/revisions"}],"predecessor-version":[{"id":16638,"href":"https:\/\/hqam.ch\/en\/wp-json\/wp\/v2\/pages\/16588\/revisions\/16638"}],"wp:attachment":[{"href":"https:\/\/hqam.ch\/en\/wp-json\/wp\/v2\/media?parent=16588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}