A business-ownership point of view.
In evaluating a company, we ask, "Would we want to be a principal owner of this business? Would we want to acquire it?" Which means we must study not only the numbers but such factors as the quality of management, the company’s human resources, the trends within its market, its position within its sector, the effectiveness and potential of its methodology.

A long-term investment horizon.
Only by investing for the long term can we realize the full potential of a company’s strengths, and by doing so we can lessen the effect of volatility.

Intensive fundamental research.
It is the only way to find companies with the potential for significant appreciation and to assess the value of such companies for possible inclusion in your portfolio.
The central importance of value. Our valuation techniques help us identify favorable entry points for each investment, enhancing performance potential.

Change as the crucial dynamic.
Changes in companies or markets, recognized early, create the opportunity to achieve significant appreciation in value. We strive to be ahead of the crowd.

Our investment philosophy is implemented by four investment teams, each specializing in one major investment strategy