Below is the Case Research Portfolio, detailing their holdings, performance, comparison to benchmarks, and all the other features clearly shown.

Results indexed to: 100 GBP

We feel this should be done for three reasons:

1. Show Conviction: we don’t think it’s very genuine, or intelligent, to find great opportunities and not own the best ones, yet suggest or imply you should

2. Education: we don’t cover portfolio management, but get torrents of questions about it. This is our penance.

3. Retrospective Use: arbitration investing is a new area, with 50% of ICSID cases initiated in the last decade, despite its 60 year history. So, there’s not a reliable way of documenting performance, like we have with e.g. Graham’s net-net approach, meaning that, one-day, this may be a useful piece of information