We are business buyers and investors, not short-term traders

Our focus is to do in-depth research on strong, durable franchises

We strive to buy great companies at reasonable prices

We have a core belief that value is driven by time - not timing

The process seeks to identify growth businesses with key attributes

Adhering to these investment traits leads to positive stock selection

High barriers to entry and a “moat” around the franchise

Market share leaders with durable competitive advantages

Pricing power and flexibility to withstand market volatility

Recurring revenues and sustainable business models

Strong balance sheets with predictable free cash flow

Excellent management teams properly allocating capital

In the short run, the equity market is a VOTING machine

Fickle opinions about prospects determine popularity or lack thereof

In the long run, the equity markets are a WEIGHING machine

One needs to assess underlying trends to determine intrinsic worth

A company’s valuation is determined by its long-term performance

Companies that execute well, will see their stock prices trend higher