Reality Versus Perception – Our definition of a quality company is different from perceived wisdom; for us, it is the recurring nature of a company’s revenues within the context of an appropriate allocation of capital and positive industry structure. It is not simply steady sales with low economic sensitivity.
Objectivity – Our process is evidence-based; if we can’t prove it, we can’t own it.
Discipline – Our investment process is a clearly defined, iterative process. Throughout implementation we adhere to strict rules.
Consistency – Our process is transparent, repeatable and consistently applied.