We are an independent portfolio investment management firm.

Our equity investing applies a value discipline with a focused approach in fundamental research.

We utilize a business owner’s approach to investing, thoroughly examining the business and the management team.

We apply a bottom-up investment approach focused on protecting against permanent capital loss while seeking to deliver strong absolute returns for our clients.

Quote 1

"The stock market is filled with individuals who know the price of everything, but the value of nothing."

–– Phil Fisher

Quote 2

"All intelligent investing is value investing. Acquiring more than you are paying for. You must value the business in order to value the stock."

–– Charlie Munger

Quote 3

“An investment in knowledge pays the best interest.”

–– Benjamin Franklin

Quote 4

“Successful investing is about having people agree with you…later”

–– James Grant

Quote 5

“The big money is not in the buying and selling… but in the waiting.”

–– Charlie Munger

Quote 6

“The single greatest edge an investor can have is a long-term orientation.”

–– Seth Klarman

Quote 7

“Successful investors tend to be unemotional, allowing the greed and fear of others to play into their hands. By having confidence in their own analysis and judgment, they respond to market forces not with blind emotion but with calculated reason. Successful investors, for example, demonstrate caution in frothy markets and steadfast conviction in panicky ones. Indeed, the very way an investor views the market and its price fluctuations is a key factor in his or her ultimate investment success or failure.”

–– Seth Klarman

Quote 8

"The four most dangerous words in investing are, it’s different this time."

–– Sir John Templeton

Quote 9

“The best way to measure your investing success is not by whether you’re beating the market but by whether you’ve put in place a financial plan and a behavioral discipline that are likely to get you where you want to go.”

–– Benjamin Graham

Quote 10

“A lot of people with high IQs are terrible investors because they’ve got terrible temperaments. You need to keep raw, irrational emotion under control.”

–– Charlie Munger

Quote 11

“Know what you own and know why you own it.”

–– Peter Lynch

Quote 12

“The investor’s chief problem — even his worst enemy — is likely to be himself.”

–– Benjamin Graham

Quote 13

“A market downturn doesn’t bother us. It is an opportunity to increase our ownership of great companies with great management at good prices.”

–– Warren Buffett