We are fundamental, bottom-up business appraisers who rely on our proprietary, in-house research. We build portfolios that are concentrated in what we believe to be our most qualified investments.
Since 1975, we have applied an in-depth research process, drawing upon insights from our four-plus decades of experience, extensive global network and rigorous decision-making process. We are fundamental, bottom-up business owners. Our research is driven internally by our global investment team. We seek to build portfolios that are concentrated in what we believe to be our best investment ideas.
Our global team of generalists are tasked with finding the best bottom-up ideas regardless of sector, market cap or geography. The team has a formal weekly meeting to review existing and prospective investments and collaborates informally on a daily basis. The team sources new ideas in a myriad of ways, combining a quantitative screening process to define and narrow the universe with a qualitative assessment overlay and vetting through our extensive network.
Analysts conduct an in-depth qualitative and quantitative review of companies from a Business, People, Price point of view. Companies must meet a minimum criteria for business quality with potential for value creation by capable management teams.
At this stage, the entire research team reads the report and extensively debates each potential investment, drawing upon all available internal and external resources to thoroughly vet the case.
G. Staley Cates, CFA
We actively manage and monitor our portfolio, adding to and trimming positions to increase the margin of safety and qualitative positioning of the portfolio, while adhering to strict portfolio guidelines.