Investment Philosophy

A Share in a business


We firmly believe that profitable investment opportunities exist from time to time each year in the purchase of the common stock in well-established companies. In tracking a number of such companies closely we see the prices of their stock fluctuate far greater than the value of their underlying businesses. Wall Street traders are quick to sell such businesses when a single earnings report or news announcement presents a temporary disappointment in the future outlook of such a company. Yet the examination of many of these companies historical records presents a strong case for the superior management capability and product strengths to warrant purchase at the right price. Our job is to seek out and purchase such companies for our clients when our research validates that the price is low relative to the business value. Having done such work for a number of years, we have found certain characteristics in common among the companies which have consistently provided the best investment returns for our clients. These companies typically possess most or all of the following:

Intrinsic Value

The investment management principles practiced by our company derive from the work of the late Benjamin Graham, author of