Value

Apply fundamental analysis to identify deeply discounted opportunities with high margin of safety

Patience

Remain patient for opportunities & nimble at execution

Conviction

Concentrate capital into 10-15 best ideas

Discipline

Capitalize on contrarian ideas with multi-year time horizon

“We’re trying to find outstanding assets at distressed valuations… Sometimes you find a really great business in a bad environment.”

– William Strong

“The stock market is designed to transfer money from the active to the patient.” 

 – Warren Buffet

"It wouldn’t be fair to our customers if we had to spread our ideas too thin. There aren’t that many great companies.”

– Bill Ruane

“In the short run, the market is a voting machine; in the long run it is a weighing machine.”       

– Ben Graham