Our Goals

Outperform the S&P 500 Index® over time and preserve capital.

Philosophy: The Value of Being Different

To outperform the market, an investment strategy needs to be different from the market in ways that add value on a risk-adjusted basis. We stand apart from the crowd and avoid “consensus” stocks. We employ independent thinking and find opportunities where others don’t see them.

Over our 30+ year history, the reward for our clients has been capital preservation and long-term outperformance with lower volatility.

Investment Discipline

Our philosophy of differentiation is reflected in the core tenets of our investment discipline.

Rather than seek safety in quantity, we seek safety in quality and price.

Willingness to Hold Cash
We hold cash — sometimes a lot of it — as dry powder when the companies we want to own are not available at attractive prices.

Patience & a Tolerance for Discomfort
Whereas others bend with the whims of the market, we remain patient and adhere to our discipline whatever the circumstances. In fact, we believe that it is precisely during periods of discomfort that an investment discipline matters most.