Investment Philosophy Keystones
Value Investors: In the spirit of Graham and Dodd, we assess the intrinsic value of the business and purchase only when there is an estimated adequate margin of safety in the company’s market price.
In-Depth Research: Extensive due diligence applied to assessing businesses, company leadership, and competitive backdrop.
Small- and Mid-Cap Stock Concentration: Our focus on smaller companies provides more opportunities to take advantage of market inefficiencies and better access to management.
Long-Term: Our patient, buy-and-monitor approach allows time for market/intrinsic value gaps to close and may be more tax efficient.
Concentrated Portfolios: This permits us to focus on our best ideas and allows each stock’s performance to potentially have a meaningful impact on returns.