Our investment philosophy is the foundation of our decision-making process. It has contributed not only to our proven long-term performance but to our long-standing client relationships. We are steadfast about making the right investment decisions, and never lose our focus on preserving our clients’ capital. Essentially, we seek to achieve above average long-term results with below-average risk.
Our analytical approach focuses on fundamental research – what is a business all about, versus market perception. Our investment strategy is rooted in discipline – this gives us the ability to maintain a long-term view and avoid emotional decision-making during periods of market turbulence or euphoria. As a navigator at sea attempts to mitigate the effects of choppy waters to ensure the comfort of its passengers, we take pride in helping our clients sleep better at night. We limit investment risk of portfolios by seeking companies with very strong financial positions, and whose securities are priced at significant discounts to their intrinsic value. This creates a margin of safety during market declines.
Our investment perspective is based on extensive knowledge and insight. We follow a consistent and research-intensive process in our analysis, determining the impact of all critical factors in our decision-making: the global economies, domestic and world politics, liquidity and credit availability, sector and specific security valuations. While we believe that our disciplined approach and conviction sets us apart, we recognize that flexibility and humility are vital when faced with changes in the marketplace. We continually strive to enhance our knowledge, and are ready to change course, as needed.