What we believe


Change and uncertainty can mask Uncommon Value in public securiti​es.  Corporate events, business changes and macroeconomic forces can create clouds and investor uncertainty.  Financial Markets generally do not handle uncertainty well.  Uncertainty can bring opportunity.


By focusing on Opportunities over Benchmarks, we believe that we can achieve attractive risk adjusted returns over long periods of time.


Great Business Franchises have the ability to reinvest and compound capital at attractive rates of return over long periods of time.


Public equities offer investors the opportunity to invest in business franchises and to share in their returns.



Management Matters.  Our views on management will directly correlate with our conviction in our investment decisions.

Great Business Franchises view and treat their share/stakeholders fairly and as partners.

Great business managers make wise decisions when allocating their capital.


Risk exists in the securities markets, we must be serious in evaluating risk.

The value that public equity markets assign to a ​business franchise can vary greatly over time.

Risk and return can be greatly impacted by the price that an investor pays when acquiring a stake in a business franchise or asset.

By acquiring stakes in assets and businesses at attractive valuations, investors can enhance their "Margin of Safety."



Capital Preservation and Prudence should outweigh Speculation.



Knowledge breeds conviction and conviction breeds success.  If we can't understand an investment, we are not likely to own it.  When we have conviction, we want to make it count.


Time is an investor's asset, risk is a liability that should be minimized, taxes can be managed.


Our clients are our most valuable assets​ and we will strive to maintain their trust at all costs.


​​​​​​​​​​...Our clients are our most valuable asset...