Very broadly speaking, there are two main types of investors; institutional and retail.

• Institutional investors are sophisticated entities with a high number of assets (millions to billions), dedicated investment teams, state of the art investment tools and access to the latest research (i.e. Bloomberg).
• Retail investors are poorer, less sophisticated and resource constrained. We are retail investors.

You might think from reading this that Institutional > Retail and that retail investors would simply not be able to compete for ‘alpha’ – this is not the case. Institutional investors are slow (reaaaaaaaaaaaaaaaalllllly slow) and often have multiple decision makers with misaligned incentives. They are constrained in how they can invest, where they can invest, the stocks they can invest in. Complex objectives may force them into making decisions that are not return maximising… Us retail folk are nimble, unconstrained and do not have to justify our decisions to anyone. Freedom! It is this freedom that gives us our edge.

Public Portfolio was established to bridge the gap between retail and institutional investors. I aim to show you, using our limited resources, how to generate a superior portfolio using public market investments only.