Our Philosophy

We seek to capitalize on investor impatience by buying out-of-favor, high quality assets trading at depressed prices, and allowing time for the strategy to play out.

A Key Insight: The recent flood of real-time data and information has only increased the human tendency to “do something”

In the last 70 years, stock holding periods have declined by 92%—from six years to six months *

* Nate Silver, “The Signal and the Noise” (Penguin Books, 2015)

We focus on how a company could evolve over a few years, how much cash it should generate and how management will allocate that capital; we monitor the company’s progression towards those longer-term goals while trying to “tune out” short-term noise.

Our Approach

“Conduct Fundamental Research” analyzing financials, managements and strategies.