Article preview – On the Money: A Global View for Business Owners and Family Offices Investing in Equities 

For business owners and family offices looking to deploy capital into global equities, the challenge is rarely a shortage of opportunity. Instead, it is about clarity of approach. In a recent conversation, Traditum’s Stephen Pickup sat down with Warwick Simons, Portfolio Manager and Principal of Compound Global Advisors, to explore how long-term investors can navigate today’s markets with discipline and conviction. 

In this preview, Warwick shares key principles and lessons from his approach to global equities; the full upcoming article will dive deeper into his strategies and portfolio insights.

Compound Global Advisors, an SEC-registered investment advisor based in Seattle, manages $1.2 billion for clients worldwide. Its mission is straightforward: to deliver better long-term returns than passive ETFs by owning exceptional businesses. 

Think Like an Owner, Not a Trader 

Warwick’s first piece of advice is disarmingly simple: think like a business owner. 

“The best long-term returns,” he explains, “come from owning excellent businesses that compound intrinsic value over time, not from guessing short-term price movements.” For private business owners in particular, this mindset should feel natural. The same principles that build a successful company, including focus on quality, growth prospects, and disciplined capital allocation, also underpin successful equity investing. 

His second principle is patience. Markets are volatile, headlines are noisy, and periods of fear can tempt even experienced investors to act rashly. Over time, however, stock prices tend to converge with intrinsic value. “When headlines are apocalyptic,” Warwick notes, “that is often the worst time to sell and sometimes the best time to buy.” 

Finally, diversification matters, but it should be applied thoughtfully. Compound Global typically owns 40 to 50 well-researched companies across sectors and geographies. That balance, Warwick argues, protects against mistakes and bad luck without diluting the impact of the highest-conviction ideas. 

Defining Quality 

At the heart of Compound Global’s philosophy is a bias towards high-quality businesses. But what does “quality” really mean? 

For Warwick, it starts with high and stable returns on capital, along with the ability to reinvest capital at similarly attractive rates. Companies that can consistently deploy capital at high returns tend to grow intrinsic value faster than the market expects. 

Durable competitive advantages are central to this philosophy. These protective “moats” take many forms, including network effects at Meta, proprietary technology at Nvidia, switching costs at Constellation Software, or brand power at Hermès. Compound Global also assesses long-term growth opportunities and management quality, seeking leadership teams capable of stewarding capital responsibly. 

Importantly, the firm does not rely solely on quality. It also incorporates valuation discipline and earnings momentum, recognising that no single investment style outperforms in all market conditions. The resulting portfolio blends quality, value, and growth, aiming for resilience across market cycles. 

2025: A Test of Discipline 

The past year proved challenging for high-quality stocks, but Warwick notes that a diversified approach helped navigate volatility. Positions in value-oriented sectors, such as airlines and gold miners, helped offset some of the drag from quality holdings. 

Over the long term, the strategy has delivered strong results, highlighting the benefits of patience, disciplined investing, and a focus on capital preservation. “We are comfortable giving up some upside in exuberant markets in exchange for more resilient performance across the full cycle,” Warwick explains. 

The 2026 Outlook 

Looking ahead, Warwick is cautiously optimistic. A “Goldilocks” environment, characterised by modest disinflation, stable labour markets, improving earnings, and gradual rate easing by the US Federal Reserve, appears supportive for equities in the near term. 

Artificial intelligence is also translating into tangible productivity gains. Warwick points to examples of companies leveraging AI to streamline operations and improve profitability. 

Is AI a bubble? Warwick does not believe so, at least among the largest listed companies. Despite extraordinary earnings growth, valuations for leading AI beneficiaries have moderated. He does caution, however, that pockets of speculation likely exist among smaller, less profitable businesses, which the firm avoids. 

US Versus the Rest, and the “Magnificent 7” 

Warwick does not consider the US market broadly overvalued, noting structural improvements in profitability and earnings growth, particularly among asset-light technology companies. 

Outside the US, markets outperformed in 2025, but Warwick believes much of that gain was driven by valuation re-rating rather than fundamental acceleration. Investors should moderate expectations and remain selective. 

For armchair investors considering the “Magnificent 7,” Simons acknowledges the appeal. Compound Global owns five of these leading technology companies, while remaining cautious on others where risk or valuation concerns are greater. 

For entrepreneurs and family offices, Warwick’s message is consistent: invest as you would run your own enterprise, with discipline, patience, and a long-term horizon. Markets will fluctuate, styles will rotate, but high-quality businesses purchased at sensible prices and held through volatility remain a powerful engine of long-term wealth creation. 

Keep an eye out for the full interview, to be published by Business In Practice this month, where Warwick Simons shares more detailed insights, portfolio examples, and forward-looking strategies for 2026.