Investment Principles

Appropriate investment horizons

• The longer the period of the investment, the higher the probability that markets reflect expectations.

Exhaustive, considered research

• We know what we are buying. We prefer to miss opportunities, rather than invest in something we don’t understand.

Prudent diversification 

• We manage risk by aptly spreading clients’ exposure across independent holdings.

Capital protection

• We focus risk management on the potential for loss. Avoiding large losses leads to better outcomes through compounding.

Purchase valuation drives return

• We believe price is an imperfect proxy for value as sentiment drives price over shorter time periods.

Cost management

• Irrespective of the source, lower costs are guaranteed sources of added value.

Other people’s money

• We actively position investors interests first with sound stewardship principles to help clients meet their goals.

Portfolio management matters

• We believe excellence in portfolio management is distinct from the ability to find good investments and must focus on a strategy’s objective and timeframe.