Our Investment Process

Since 1975, we have applied an in-depth research and a rigorous decision making process. We are fundamental, bottom-up business appraisers. Research is driven internally by our global investment team. We seek to build portfolios that are concentrated in what we believe to be our best investment ideas.

Source Ideas Worldwide

Team looks for undervalued companies around the globe.

  • Consider global universe of 4,000+ companies
  • Screen for quantitative qualifications
  • Leverage global network of industry management teams, boards, and executives to gain investment insight
  • Generate a target list of companies to be appraised and monitored

Research Qualified Companies

Analysts quantitatively and qualitatively analyze companies based on
strong business, good people, and a deeply discounted price.

Team Analysis and Investment Decision

Investment team extensively debates each potential investment.

  • Lead analyst develops in-depth appraisal and research report
  • Team debates idea based on business, people, and price
  • Devil’s advocate challenges investment case
  • Analysts meet management team and vet through our global network
  • CIO leads team decision

Portfolio

Each portfolio is concentrated
in 18-22 companies.

Read more about our Risk Management strategy.