What We Do
- We follow a value approach: buying stocks in companies when their intrinsic value is higher than the market price.
- We pick stocks based on a careful fundamental analysis, not popularity.
- We follow a bottom-up approach. We are not in the business of predicting market fluctuations.
- The managing partner’s net worth is invested in the fund along with the partners.
- We will keep permanent capital loss (not short-term market fluctuations) to an absolute minimum by seeking a large margin of safety in every position we invest in.
Valuing Our Performance
- We are absolutely not promising any rate of return to partners. However, our aim is to beat those achieved by the general market over the long term.
- The minimum holding period is one year.
- We are to be judged compared to the general market as measured by S&P 500.