We focus on company fundamentals.
We focus on conducting in-depth research on company fundamentals. This informs our assessment of a company’s intrinsic value. Intrinsic value is the present value of a company’s total expected net cash flows.
We invest in companies when they are attractively priced relative to their long-term return potential.
Our investment process determines whether a company’s current price is too high or low compared to its track record and our assessment of its future potential, as measured by intrinsic value.
We invest with patience and for the long term.
It can take time for a company’s share price to reflect its underlying intrinsic value. Our approach therefore requires patience to invest for the long term.
We understand and manage risks.
Returns in financial markets can only be achieved by assuming some risk. We concentrate on understanding the risks companies face so that we invest with a margin of safety and diversify our portfolios.