Philosophy
We manage
concentrated small cap domestic equity
portfolios. Our Independent Accountant's
Verification Report prepared in compliance with
the Performance Presentation Standards of the
Association for Investment Management and
Research (AIMR-PPS) is available on request.
Portfolios receive
continuous supervision because investment
management is an ongoing evolution, not a
one-decision process.
Common sense and business
acumen are combined with a disciplined approach.
Stocks on our Buy List are selected and
continually evaluated according to fundamental
screening, rigorous financial and accounting
analysis and subjective qualitative analysis. We
rely exclusively on our own research. We
identify companies demonstrating the ability to
perform well regardless of industry conditions,
cyclical trends, or volatility in the economy or
market. Then we buy them right and watch the
company and management carefully.
We are defined as much by
what we do not do as anything else. We do not
buy commodities, futures, ADRs, warrants,
options, or foreign securities. We do not
purchase on margin, purchase IPOs, use mutual
funds or engage in short selling. We buy only
domestic securities that are priced daily and
can be sold without limitation so portfolios are
liquid, marketable, and readily valued at any
time.
