Maybe it’s because we are simple that we like simplicity.

We like to know the companies that we own and why we own them.   And we like to own companies that dominate their space.  Why?  Because we want to know that they will be around in the years and decades to come.  And we want to know that they will be able to continue to pay the current dividend and ideally be able to grow it in the future.

We also don’t trust the markets because we know them for what they are…a vast organic assortment of emotions and opinions which collectively function as a determinant of a stock’s price from day to day… a price, which is not necessarily a true reflection of its real value.

But just because we don’t trust the markets, doesn’t mean we don’t love the markets. We do.  We particularly love their mood swings…from joyously optimistic one day to manically pessimistic the next.  Why?  It’s because these swings provide us with opportunities to enhance our clients’ returns.  For this reason, we are unlike the average manager.  While most abhor volatility and uncertainty, we welcome it.  In fact, our strategy was borne out of the distress and uncertainty of the global financial crisis of 2008.

What we believe:

We believe that volatility and uncertainty will continue to be hallmarks of the stock markets for the foreseeable future.  As such, our investment strategy is designed to respond to and take advantage of this “new normal”.

We also believe that only absolute performance matters.  As someone much wiser than us once observed…”you can’t eat relative performance”.   What is absolute performance?  In our opinion, absolute performance is ending the year with more money in your portfolio than when you started the year…in real terms.  This means that you have made money after making allowances for management fees, transaction costs and the true impact of inflation.

Finally….and most importantly, we believe in the virtues of hard work.  We take pride in the amount of effort we put into representing our clients and striving to achieve the best possible outcome for them that we can.  We will not always be right but we will always have done our best.