Our Mission and Philosophy
We believe that there is an investment discipline which leaves wide open the opportunity for the tremendous financial benefits of common stock ownership and which also meaningfully reduces the risk of the substantial, permanent losses that are often associated with investment in the stock market. The Holy Grail for investors is more reward and less risk. The approach that offers this is easy to describe and understand, but the skills required to execute it effectively are won only with the guidance of extraordinary mentors and years of hard experience. We have practiced this approach for more than three decades and have observed its successful application by like minded investors as well. We believe strongly that a firm should exist in our community that offers this approach in its pure form. We provide it.
Our investment philosophy is based on the concept that the expected cash flows to owners of stocks and bonds create a core value that is independent from the quoted market price of such assets.
Because markets are emotional, buying opportunities arise when assets are priced far below their core value, and selling opportunities appear when assets are priced far above their core value.
If we are accurate in our assessment of core value and diligent in executing our strategies, we should provide better than average profits with meaningfully reduced risk.