Our Investment Philosophy
Our investment philosophy does not change over time.
We believe that over long periods, owning shares of good businesses is the best way to grow your wealth, especially when you own sound, growing companies purchased at reasonable prices.
We invest on the fundamentals of a business, including its profitability track record and the safety of its balance sheet. We do not like stocks just because they are popular. In fact, it does not bother us if they are unpopular.
We focus on the long term, ignoring the short-term noise and volatility of the market. We do not try to time the market. We stay invested if reasonably priced investments are available, but we are not averse to holding cash when stocks are very expensive.
We approach investing like businesspeople. This means we have an entrepreneurial mindset, and we think of ourselves as buying portions of businesses, not gambling on ticker symbols on a computer screen.
Any place, Any size
We invest in companies from other countries and of any size. We believe that by increasing our opportunity set, we are increasing our chances of success.