Value Investing

We are value investors. A stock is the only thing we know of where the more expensive it gets, the more attractive it seems to be to the popular buyer.  We instead like to find quality investments for our clients when they are "on sale." 

While it is impossible to predict future investment performance, it is possible to do analysis of stocks and bonds and real estate to sum up whether the business that is being purchased appears solid. With a well-researched estimate of value, one can buy at a discount to improve the opportunity for a positive outcome, and to minimize investment downside. This is the discipline we follow and the opportunity we seek for our clients. We seek to buy good businesses on sale.

This value discipline can produce a contrarian result: we tend to become cautious when others are more ebullient, and we sometimes find ourselves more interested in certain types of investments when the crowd has decided they are unattractive. Sticking to this discipline year in and year out is what we think gives us the highest possibility of achieving our clients' investment goals.