Our strategies are the culmination of our philosophy and process. We use a bottom up, business by business approach to build portfolios of exceptional companies at fair prices. We don’t make calls on the economy, commodities, interest rates, or currencies because we don’t believe anyone can consistently predict where they are going. And we don’t attempt to time the market’s direction. We let the prices the market is willing to pay for the businesses we own—or sell us the businesses in our universe that we don’t—instruct the composition of our investments over time. A team-driven body of research underlies two complementary, long-only investment strategies with differing degrees of concentration.

We manage separate accounts as if they were a single, strategy-specific pool of assets. We don’t use “soft dollar” commissions to pay for research or other operating expenses. Our strategies don’t employ portfolio level leverage and carry no performance fees.

 

 

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