Three long-term winners the stockmarket has missed

Professional investor Jamie Ward highlights three stocks that he thinks the market has overlooked.

We follow a simple process to allow our portfolio to generate real returns over the long term. The process comprises stock selection and risk management. In stock selection, we are trying to find companies that satisfy three crucial criteria.

One, economics: it must make an economic return, meaning that the outputs are more valuable than the inputs and there is some reinvestment opportunity. Two, sustainability: a qualitative assessment of whether the economic return determined in point one can be continued into the foreseeable future, meaning a decade or so hence.

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Jamie is an analyst and former fund manager. He writes about companies for MoneyWeek and consults on investments to professional investors.