Mission

Maximize long-term value for our clients by focusing on business fundamentals, allocating the most capital to our best ideas. Our research is available free of charge. We also offer portfolio management for a fee. We want to build long term relationships with our clients.

Value Investing

Successful investing requires prudent business selection at advantageous prices. Growth at any price is not in our vocabulary.

Focused Portfolios

“Diversification is protection against ignorance. It makes little sense if you know what you are doing.” – Buffet

Why would you want to own a tiny part of every single company in the universe of companies? More than likely, there are good companies and bad – profitable ones and unprofitable. We focus intensely on a few great companies and construct portfolios around them.

Long Term Approach

We’re here for the long-haul. We won’t measure our success over 1 or 2 years – but rather over a 5 to 10 year time span. Value investing returns can be persistently stubborn – and years of market under-performance are not atypical. What really matters to us is how we do over many, many years. It also really helps to stay focused on business fundamentals, which gives us confidence to know that we made the right move despite market fluctuations.

“In the short run, the market is a voting machine, but in the long run, it is a weighing machine.” – Graham

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