Investment Philosophy

Stock price ultimately reflects the fundamental value of a business over a period of time. Understanding how a business makes money, and then putting the right valuation framework around it, gives us a sense of its value. Long-term thinking helps us navigate the noise, and realize the true compounding potential of the business.

We follow a rigorous investment process. This involves developing not only a deep understanding of the business fundamentals, but also the right valuation framework given the characteristics of the business. Our investment process leads us to investing in unrecognized growth at the right price as well as in quality cyclical businesses at the right value.

Our disciplined process involves reading annual reports, creating financial models, and meeting not only company managements, but also their competitors and industry experts. Over the years, we have developed an extremely strong industry network, with access to senior management across sectors. We have also developed a network of global analysts and investors. This is an invaluable source of both, idea generation and management evaluation.

We do not box ourselves in any particular theme or market capitalization but, rather, invest in each company on its merit.

Our goal is to create a focused portfolio of companies run by strong management, to generate superior absolute returns over the long term.