We have been investing in small businesses for more than 40 years.
We strive to put capital to its highest and best use.
Our investment philosophy is rooted in fundamental value creation. We believe value is created when companies earn high returns on their investments, have competitive advantages that protect those returns, and have long reinvestment runways to deploy capital. This is what defines a great business. We also believe the price you pay matters. We seek great businesses at good prices.
We pride ourselves on our greater than forty-year history of primary research. We have met with and invested in thousands of companies. We are constantly meeting with management teams, attending investment conferences, reading SEC filings and earnings transcripts, and speaking with other investors we respect. We scour the market for new ideas by using our many contacts developed over the years, quantitative tools, and good old-fashioned hard work.
Our Investment Management services consist of:
- Investment research
- Stock selection
- Portfolio monitoring and management
We manage assets across the risk spectrum.
We segment our portfolios into “aggressive” and “defensive” assets to meet our clients’ needs. For aggressive positions, we use common stocks. For defensive positions we use a range of vehicles including Business Development Companies (BDCs), Real Estate Investment Trusts (REITs), Master Limited Partnerships (MLPs), and Preferred Stocks, which typically carry higher yields than traditional bonds. We use bonds when appropriate, but believe investors are better off in the long run focusing on higher returns. Call us if you’re interested in learning more about our unique approach to creating portfolios for clients.