We strive to identify outstanding businesses with superior growth and profitability through extensive research. We generally make investments only when the market presents opportunities in which attractive long-term returns may be achieved with limited downside risk. Our investment philosophy is grounded in three tenets:
We are focused on owning only what we believe are the world’s best businesses. We seek companies exhibiting 5Ps: The industry Pie is growing; the company’s Piece of the Pie (market share) is growing; the company has Pricing Power; the business has a high level of Predictability and is managed by People who are trustworthy and good stewards of capital.
We seek to understand our businesses better than our peers through independent, granular and continuous research. Investment ideas are generated internally and vetted with the assistance of a dedicated team of qualitative field analysts.
We wait patiently for the market to present opportunities to deploy capital at attractive discounts to intrinsic values.