Our process
We believe shares in high quality, high return companies can outperform if bought at the right price. We seek to invest in companies with excellent management and strong market positions in attractive industries.
We believe shares in high quality, high return companies can outperform if bought at the right price. We seek to invest in companies with excellent management and strong market positions in attractive industries.
Our research-intensive investment process seeks to identify businesses that possess characteristics that enable them to repel competition and sustain high returns.
We seek financial characteristics that reflect a capacity to generate and sustain strong growth and returns, including high and stable free cash flow, low capital employed, high RoE, positive operational leverage, and a conservative approach to debt financing.
We seek to partner with management teams of high integrity that think like owners and have proven themselves to be prudent allocators of capital over the long term.
We are patient and seek to buy companies at a significant discount to our estimate of intrinsic value.
Lead portfolio manager retains full responsibility for capital allocation decisions. Portfolio typically consists of ~40 positions.
