We believe long term ownership of high quality stocks and bonds is the best strategy for compounding and preserving wealth. Our portfolios have 25 to 30 stocks with an average holding period of three to five years.

The principles of value investing underlie our approach to portfolio management. We own companies managed by high integrity owner-managers, who run the companies for the benefit of shareholders. We select companies with near permanent advantages arising from brand, industry leadership or economies of scale that increase the chances for success in times of stress. Purchasing these companies at attractive valuations is an important risk management tool.

We invest relatively more capital behind our highest conviction ideas. Our approach aims to minimize the risk of capital loss while achieving superior results.