Our Research
Process
Select Equity's analytical team originates and vets its
own ideas through a bottom-up process that generally entails several years
of study before making an investment. We rarely speak with Wall Street
analysts or read their written work.
In pursuing due diligence, we work in teams of two to four analysts. We
generally visit key facilities, meet with top executives face-to-face,
and speak with competitors, suppliers, distributors, and customers. Most
of Select Equity's analysts are generalists.
Over the course of nearly two decades, we have developed a deep understanding
of a few hundred public companies that meet our quality of business criteria.
Due diligence on these companies is ongoing, and we expect that at some
point the market will present opportunities to invest in each at attractive
valuations.
As of 2007 year-end, we employed 18 full-time analysts (including the
Firm's four portfolio managers). The majority of our analytical team has
come to the Firm through an internship program that has been in place
since 1993. The five most senior investment professionals have all
been at the Firm for over a decade. |
