Michael Kretschmer

Michael has been with Pelargos since its foundation in 2008. Together with Richard he manages the Pelargos Japan Alpha Fund. In his role as a CIO, Michael combines his analytical qualities with his need to think out-of-the-box.

An analyst who loves irrational behavior

Michael observes and investigates. He is always looking for the contrarian view behind the obvious mainstream opinion. Financial markets are indeed complex systems, but, according to him, admitting to what is unknowable helps to focus on the what can be understood. Michael is especially fascinated by investors’ irrational behavior and tendency to extrapolate trends. That explains his interest in Asian financial markets, which are frequently dominated by irrational behavior. According to Michael, economics and investment theory are a social sciences and common sense are key to understand the cross currents of equity investing.

Critical and non-conformist

Michael gets the jitters if investors all want one and the same thing. In these situations he challenges his team members asking them ‘what is wrong here?’ and subsequently develops ideas on how to turn this particular situation into an investment opportunity. There is always an opportunity somewhere, but in order to detect it one needs to take a perspective often different from what ‘Mister Market’ thinks. According to Michael that’s what investing is all about: in order to win, you have to approach things in a different way.

Responsible, no-nonsense just common sense

Being a father of two young children Michael believes in patience, long-term thinking and endurance. Investing is a marathon, not a sprint. He selects the best opportunities for long term capital appreciation while meticulously keeping an eye on short-term risks. After all, he’s investing client money.
Michael likes to work from The Hague, which keeps him at some distance from the hedge fund crowd. This allows him to have a different perspective on things, which in turn makes him see responsible investment opportunities while others are still reluctant.

Michael Kretschmer

CIO / Fund Manager

  • Introduction

  • Michael joined Pelargos at the launch in April 2008. As an investor Michael has seen more bear than bull markets and trying to comprehened complex systems is his passion.

  • Work experience

  • Pelargos Capital (2008 to the present)

    • CIO Pelargos (2014 to the present)
    • Fund Manager Japan Alpha Fund (2008 to the present)

    Robeco (2001-2008)

    • Fund Manager Global Industrials (2005-2008)
    • Sector analyst (2001-2005)
  • Education

    • Chartered Market Technician (2012)
    • CFA charter (2005)
    • Master in Economics (2001), University of Vienna (specialization in Financial Markets, Econometrics), Erasmus University (Rotterdam) and VU (Amsterdam)