Investment Approach

independent thinkers

• A differentiated high quality investment approach focused on transforming value into growth.
  
  
• We prefer "the road less traveled", including special situations and turnarounds.
  
  
• We seek out quality companies trading at a significant discount to current and future intrinsic value.
  
  
• Because we are independently owned and operated, our investment universe encompasses companies that we believe will best benefit our clients' long-term financial goals.
  
  
• We have avoided being characterized as a style-specific manager. Consequently, we have circumvented troughs in the market when certain investment styles were out of favor.

Proprietary research

• We research and analyze a wide range of fundamental factors, including growth, profitability, free cash flow, return on invested capital, and valuation.
  
  
• We find unique investment stories with great long-term potential.
  
  
• Investment decisions are made by a team of experienced senior portfolio managers.
  
  
• The investment process is based on a debate and challenge approach rather than a traditional hierarchy.
  
  
• Strict valuation discipline is applied on a continuing basis for all portfolio positions.
  
  
• Our universe of investable stocks is constantly monitored and updated to identify and develop new ideas.

sound judgment

• Patience and conviction are hallmarks of our investment approach.
  
  
• We focus on absolute returns achieved through long-term capital appreciation.
  
  
• Our goal is preservation and growth of capital delivered in a consistent manner.
  
  
• Mitigating price risk while operating on a tax efficient, low turnover basis results in a superior after-tax return.
  
  
• Long-term investment decisions are based on sound judgment.
  
  
• Our business is comprised of high net worth individuals, families, endowments, foundations and professional organizations. We are committed to serving our clients’ needs.