Who is MORAM? – Background
I am Carlos Mora, an industrial engineer specialised in the energy sector. I worked for more than five years as a management & strategy consultant at Indra Business Consulting & NTT. During that period, I was involved in M&A and strategy projects for multinationals such as Enel, Naturgy, Telenor… However, finances are my passion. Consequently, I studied finance and economics by myself after university. I took courses in the Wharton University and London School of Economics. Moreover, I read books of Benjamin Graham and Peter Lynch. I have been analysing companies since 2014. In 2016 I started to manage the portfolio of some family and friends. Since 2018, I help other people to manage their portfolios.
Imperial College Investment Fund and Hedge Fund Experience
I obtained a scholarship to take the MBA at Imperial College of London. There, I was in charge of the energy sector in the Investment Fund for one year. At the end of the MBA, I took a six-months internship at Sefton Place Advisors, a small Hedge Fund (Long/Short Equity & Stressed/Distressed Credit) in Mayfair.
Along the period I spent working in the Hedge Fund and the Investment Fund, I mastered the analytical skills and learned how to manage large portfolios. Moreover, I carried out meetings with investor relation teams and CFOs of several companies. Since my beginnings, I have analysed more than 400 companies, elaborating full models and investment pitches before deciding whether to invest in them. Additionally, I passed the CFA 1 exam in February 2022.
Investment philosophy and portfolio
My investment philosophy is based on fundamentals. Not only analysing the company but also the industry and the macroeconomy. It is mandatory for myself to understand the current macroeconomic situation and the business model of the company before taking a position in a company.
• Currently, I manage the portfolio for 11 private clients. Each one of them has a different composition, depending on their goals and situation. However, the baseline of all of them is the model portfolio (Asset allocation section of the website)
• The portfolio is composed of some individual companies (Analysis of companies section), some index funds and some alternative investments which are explained in the asset allocation section. We follow the conference calls and earning reports of all the companies in the portfolio and the watchlist and regularly are in contact with the Investor Relation teams from these companies