In the Company of Mavericks · 2026-08-13 · 53 min
Subscribe to Hypernormal Times on Substack. High Ground founder and CIO Edgar Allen joins to explain the investment philosophy behind one of Europe's fastest-growing long/short equity funds - now running roughly $3bn , up from $10m at launch in 2019 . Edgar traces his path from teenage stock-picker in Suffolk, working through FT-ordered annual reports in the school holidays, to Fidelity during the dot-com boom, shorting technology at Avocet, risk and European equities at BlackRock, six years at Chris Hohn's TCI, and the number-two seat at Naya - and how each stop shaped High Ground's approach. The core of the conversation is duration . Equities are very long-duration assets, but the average company lives about six years. Edgar argues that discounted cash flow quietly assumes cash flows into perpetuity, and that the gap between that assumption and reality is the largest single inefficiency in the market.
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