About Cogito

About Cogito

Cogito Capital is a sub-Saharan investment manager that specialises in South African small and mid-sized listed companies. Based in Johannesburg, it is regulated by the South African Financial Services Board, in terms of the FAIS Act.

We believe that it is knowledge, obtained through rigorous fundamental research that leads to conviction. We believe that it is conviction that leads to superior investment returns. There is enormous opportunity to make superior investment returns. Sub-Saharan Africa is one of the fastest growing regions on the world. South African companies have access to deep and well regulated capital markets, quality management teams, and powerful regulatory incentives to invest in sub-Saharan Africa. The South African equity market is highly concentrated. Large companies are well research and efficiently priced. Small and mid-sized companies are often under-researched and mispriced.

We employ proprietary modelling techniques that allow dynamic real time relative valuations. Based on our own bottom-up in-house research, as well as leading third-party research, these modelling techniques allow for superior stock selection and risk adjusted returns. Disciplined risk control procedures, developed over 15 years of trading experience, are also applied.

Anthony Durham

Prior to launching the Cogito Capital in 2008, Anthony worked for 12 years as an investment professional in various investment banking, trading and analytical roles. He has a thorough and detailed knowledge of the investment universe within which Cogito operates. He has a B Compt Honours degree in Accounting Science. Anthony has managed the Cogito Capital Alpha Fund since inception and has developed a solid track record in investment returns.

Walter Grindrod

Walter is a non-executive director and investor in Cogito Capital. With 30 years of executive experience within Grindrod Ltd, he provides a key oversight role in terms of business development, and risk management. Walter is currently a non-executive director of Grindrod Ltd and an investor in a number of private equity ventures.

Cogito: Latin [koj-i-to] ~ verb- I think, ruminate, ponder, consider, plan.

Conviction: [kən-vĭk′shən] ~ noun- the feeling of being sure that what you believe or say is true.

René Descartes, the 17th century French philosopher, is widely believed to be the father of Western philosophy. In 1644 he published PricipiaPhilosophiae expounding the philosophical proposition cogito ergo sum, I think therefore I am. This proposition is regarded as the foundation stone upon which all knowledge is built, and from which Epistemology, the branch of philosophy concerned with the nature and scope of knowledge, and how it can be acquired, was born. Empiricism, one of several views of Epistemology, theorises that knowledge comes primarily from sensory experience and evidence. At Cogito Capital we believe that gathering sufficient empirical evidence is the only way to gain conviction, and gaining conviction is the only way to achieve superior returns.