Insights

Deep-dive company research is central to Quay’s investment process. This month we unpack six key themes – both emerging and ongoing – that stood out from over 30 in-person meetings with prospective and existing investees across Europe, the UK and the US.

This is the 19th edition of our Trip Insights series, where we share our travel experiences and on-the-ground perspectives from our company meetings and regional visits. It follows a recent research trip by Sarah Shaw, Global Portfolio Manager, and Tasneef Rahman, Senior Investment Analyst, through Spain, Italy, Switzerland, Germany, France, England and Scotland.

In our 2025 Outlook piece, one of the main themes we were monitoring was elevated geopolitical risks. Among these risks, an oil price shock was flagged as having one of the highest likelihoods.

It’s not whether you’re right or wrong, but how much money you make when you’re right and how much you lose when you’re wrong. George Soros (quoted by Stan Druckenmiller), The New Market Wizards: Conversations with America’s Top Traders, 1994

What’s happening in the bond market? We have some thoughts.

With quarterly results now in for most of the companies we follow, we’ve compiled the latest Canopy Highlights—insights from our global research.

This is the 18th edition of our Trip Insights series, where we share our travel experiences and on-the-ground perspectives from our company meetings and regional visits. It follows a recent research trip by Sarah Shaw, Global Portfolio Manager, and Chris James, Senior Investment Analyst, through Malaysia, Thailand, Hong Kong, China, the Philippines, and Indonesia.

"In the short run, the market is a voting machine, in the long run it is a weighing machine." Benjamin Graham, The Intelligent Investor, 1949

Through all the noise, we believe some important themes are emerging which are likely to last well beyond any potential forthcoming tariff compromise (or non-compromise).