Our team is committed to investment excellence through the following guiding principles:
Sanctity of Capital. The capital of our investment partners is sacred, and its preservation is paramount. We view our investors as long-term partners and managing their capital as a privilege.
Conviction. Preparation, self-discipline, and calculated reason allow us to buy when others are selling. Having the courage to challenge conventional wisdom is a prerequisite to delivering exceptional results. Conviction also means investing based on our own independent research, but before the whole picture becomes clear to the market. Waiting for complete clarity leads to missed opportunities.
Value-driven. Our investment process is driven by facts and fundamentals, rather than fear and greed. Emphasis is on valuation, catalysts, and total returns, independent of short-term volatility. Patience and discipline are the key tenets of our investment philosophy.
Long-term bias. Our investments are long-term positions with clear value drivers, not a set of tickers and moving prices. Market timing and speculation do not factor into our decision-making, and this long-term orientation is what allows us to capitalize on the market's short-sightedness.
Loss Aversion. We build large margins of safety into our valuations and hold cash when assets fail to meet our risk-adjusted return objectives. Maintaining humility and a strong sell discipline is critical to avoiding the permanent loss of capital.
Alignment of interest. Our principals and team members continually invest their capital and earnings alongside our investment partners, thereby ensuring a maximum alignment of interests.