These core principles inform every investment decision. We believe:
Markets are much less efficient at assessing risk than reward.
The real opportunity lies in evaluating risk.
Protecting client assets in down markets will deliver superior long-term performance.
Our process is designed to mitigate downside risk
No one can predict the future.
We rely on facts, not speculation.
Most investors over-diversify.
We are active managers who invest with conviction to mitigate risk and maximize opportunity.
Companies should be evaluated as if we are buying the entire company.
We take a long-term perspective, giving our businesses time to appreciate.