We are value investors, managing a concentrated portfolio of global investments for long term returns. 

Investment opportunities arise because markets often overshoot the mark.

Overly exuberant investors in good times and excessively negative ones in bad times create excesses.  A carefully chosen portfolio with an eye toward value and business fundamentals is more important than popularity that can be fleeting.  Our approach often defies convention and goes against the prevailing consensus.  

We focus on well-capitalized businesses to decrease the risk of unforeseen negative outcomes.

Defying convention...

A few recent examples of our often contrarian approach:

Investment success doesn't come from "buying good things," but rather from "buying things well."

We are personally invested, right beside you.