Investment Philosophy

Intrinsic Value Specialists

Drawing inspiration from legendary value investors Benjamin Graham and Warren Buffett, we invest in companies trading below their true value that have the potential to generate competitive, long-term results and high alpha for our clients.

Building concentrated “best ideas” portfolios

We are high-conviction managers with a contrarian investment approach. Each of our portfolios consist of 35 to 50 of our very best ideas identified through research that indicates they are high-quality franchises with strong balance sheets and management teams.

Capitalizing on short-term market inefficiencies

It’s our experience that stock prices tend to reflect true business values over time. It’s also our experience that, in the short- and medium-term, market prices are often either far above or below true value ᠆᠆ especially when a company or industry is out of favor. Leveraging the principles of value investing, we seek to exploit these disparities. We look for companies trading at significant discounts to their intrinsic value, a process we believe provides a margin of safety for every investment.

Our approach has historically excelled during the mid- and late-cycles of economic growth when the environment normalizes and high-quality investments regain their competitive edge.

“We believe that a policy of portfolio concentration may well decrease risk if it raises, as it should, both the intensity with which an investor thinks about a business and the comfort-level he must feel with its economic characteristics before buying into it.”

Warren Buffett