We are fundamental investors who seek to identify well-managed, high return, growing businesses whose stocks are priced significantly below our estimated intrinsic values.

We are value buyers of pieces of businesses. We conduct intensive company-specific research. Our stock selection does not rely on technical analysis or market forecasts, nor do we attempt to anticipate, or profit from, short-term market fluctuations. Rather, we desire to participate in the growth of the businesses we own and gain rewards from the market’s eventual recognition of their true values. Our approach is long-term, resulting in a significantly below-average portfolio turnover with a concentration in our best current ideas.