We are value investors seeking to purchase
securities at substantial discounts to their intrinsic
value. We are flexible in our approach and are able
to pursue investment opportunities in a broad array
of industries and companies of various sizes.
Our research intensive process begins with ideas generated
from a variety of sources including business publications
such as Value Line, The Wall Street Journal, Forbes,
Fortune, etc., as well as from company management teams,
competitors, customers and contacts we have established
over the past 15 years.
After an idea is generated an intensive financial analysis
is conducted evaluating the firm as well as its competitors.
If the stock price is substantially below our valuation,
we continue the research process. Additional interviews
and meetings are conducted with the company as well
as competitors, customers, suppliers, consultants, etc.
This primary field-based research supplements and enhances
our understanding of the company’s core financial
characteristics and the fundamentals of the industry
in which it operates. In fact, many of our best ideas
have come from our field-based research speaking with
competitors, customers, suppliers and other knowledgeable
This in-depth research is conducted in
order to further enhance our knowledge of the company
and its industry, leading to greater clarity and conviction
in our investment decisions.