Jafar Rizvi, CFA, has co-managed the International Small Companies strategy at Harding Loevner for a decade and the Global Small Companies strategy since it launched more than four years ago. He shares the joys and challenges of searching for quality in a corner of the market that lacks an investor roadmap.



Out of Our Minds
Macro Do’s and Don’ts
During a period when macroeconomic variables and geopolitical events seem to be driving so much of equity returns, it can be tempting to try to forecast what happens next. Good luck with that.
Demolition Work in Progress
In trying to make sense of this year’s breathtaking collapse in the share prices of growth stocks, it helps to understand that from policymakers’ perspective the value destruction (at least so far) has gone as planned.
Going Home: An Account from China’s “Zero-COVID” Frontline
Portfolio manager and analyst Wenting Shen braved China’s Zero-COVID policy to reconnect in person with her portfolio investments—and her family. This is what she encountered.
Does the Equity Market Know Something the Fixed Income Market Doesn’t?
When it comes to providing a mirror of where inflation is really headed, stocks may be the new bonds.
Russia, Risk, and Decision-Making
Our investments in Russia have not resulted in good outcomes for our clients. But do those outcomes point to failures in our investment process?
Beauty and the Beast
The growth of passive investing is disrupting Keynes’s beauty contest and warping market structure in unnerving new directions.
A Ground’s Eye View on Inflation and Its Persistence
Anecdotal reports from the companies we follow indicate differing impacts from rising prices—and offer a few clues to where inflation is headed.
What’s Driving China’s Regulatory Transformation
The country’s recent wave of changes may not be quite as unprecedented as it seems.
Culture Club
In finance as in sports, everybody agrees that a winning culture is paramount to success. But what is it exactly? And once you hit on one, how to ensure it sticks around?
From A to Xi: Regulatory Risk in China
Recent changes in the regulatory environment in China have sparked questions and discussions about the future of investing in the country, both in the wider world and inside Harding Loevner.
Stock Portfolios, Football Teams, and the Stories We Tell Ourselves about Each
At both a US-based investment firm and a forward-thinking club in the third tier of the English football leagues, an age-old battle rages anew.