Bell Investments is a hedge fund with a strong focus on long positions.

In Japan, the predominant strategy among hedge funds is a market-neutral or low-net strategy, which maintains a balance between long and short positions. This approach is highly regarded by domestic institutional investors for its risk management capabilities.

However, because it is expected to function as an all-weather strategy, managing volatility and mitigating risk often require considerable effort, depending on market conditions.

In contrast, our company employs a long-bias strategy, which is more commonly witnessed in the rest of world. When engaging in true fundamental investing, it is essential to pursue the intrinsic value of companies, focusing on risk management while remaining unaffected by market fluctuations.

While we recognize the importance of risk management and manage it systematically, our primary objective is to capitalize on the discrepancies between a company's potential value and its market price, based on our independent research.