We believe the markets are much less efficient at assessing risk than reward. As such, the following principles define our approach:

  • Long-term perspectives with primary focus on downside protection
  • Singular, proven investment process across all strategies
  • Research-driven approach utilizing proprietary Balance Sheet Optimization
  • Concentrated portfolios with high active share and low turnover
  • Ownership culture with material co-investment

Our goal is to maximize investor return and minimize any potential loss by applying these principles in a disciplined and pragmatic process. We rely on facts, not speculation to purchase high return, predictable companies at significant discounts to intrinsic values.

“The underlying principles of sound investment should not alter from decade to decade, but the application of these principles must be adapted to significant changes in the financial mechanisms and climate.”

Benjamin Graham