A lot of investors wait for the market to show them where the opportunity is. We prefer to do that work before it does. The bear market is when we assess where the market is going, identify the sectors and assets we want exposure to, and create fair-value targets. Then we wait. The goal is to be ready when “fat pitch” opportunities arrive during risk-off conditions. That process is how our current portfolio was built (up ~85% with bull still ahead), before the cycle turns, rather than after everything is obvious. --- The latest TDR Pro special edition walks through the sectors, themes and assets we identified during the bear market, alongside the research and portfolio decisions behind them. Access the research + our active portfolio management by unlocking TDR Pro below👇