Long-Term Value Investment Philosophy
We follow an opportunistic, disciplined, value-based investment philosophy focusing on total return over the long term. We do not focus on quarter-to-quarter performance, and our portfolios are not designed to correlate to any broad market indices.
Flexible Investment Approach
Our approach is flexible in that we invest anywhere we perceive value and are not constrained as to market capitalization, domestic or foreign investments, sector, industry, and ratings of debt instruments. We may hold cash and/or cash equivalents until investments that meet our criteria are found. At times cash and/or cash equivalent balances can be substantial.
Disciplined Portfolio Management
Investments are typically only made in a portfolio when we feel it is at an appropriate buy level. We feel this helps to control individual portfolio risk. At times portfolios can become more heavily weighted in an investment, sector, or industry based on the perceived opportunity or lack of other opportunities. Account holdings can also differ between accounts due to timing of investment account inception, different risk tolerance, tax implications of investments and transactions, and client-imposed limitations for an account.