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
- 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