How we do it


We look at the investment and economic landscape and ask ourselves…

Where are the clouds, changes and​ opportunities?


Our Equity Investment Process


Opportunistic Style - Time Tested - Not Benchmark Driven


Core Long Term Criteria


  • Fundamental Screens and Criteria - searching for Great Businesses that can grow our clients' capital
  • Qualitative Screening and Criteria
    • Overall view on Management quality
    • Is Management Aligned with Shareholders?
    • Sustainability of Business and Franchise
    • Capital Allocation Policies and Track Record - Are they compounding shareholder capital?
  • Use Valuation to Enhance our Margin of Safety – Minimize Price Risk and Protect our Capital
  • Rigorous Fundamental Research - building our Knowledge and Conviction
  • Business and Economic analysis​ - Sector Focuses, Business Dynamics
  • Risk Management - Valuation, Fundamental and Business Review


​Tactical Approaches


  • Mispriced Growth – Positive changes in business dynamics that are undiscovered
  • Uncommon Value – Great businesses under a cloud or undiscovered
  • Special Situations - Mergers, Spin Offs, IPOs, Reorganizations, Bankruptcies, Event Driven - where undervalued or undiscovered franchises or assets can be uncovered via equity or debt investments
  • Cyclical Growth – Undervalued companies that are expected to benefit from economic and business cycle changes
  • Contrarian – Companies that are out of favor with substantial franchise value

​​​​​​​​​​...Knowledge breeds conviction ​and conviction breeds success...