We look for "one-of-a-kind" businesses displaying high customer stickiness, run by dedicated managers for the long-term.
Such characteristics should translate into compounding economics> – a high return on capital and the ability to reinvest returns to achieve outstanding organic growth
Our investment philosophy is characterized by consistent application of the principles of value investing: avoid any risk for permanent loss of capital and ensure downside protection with a margin of safety.
We align ourselves with the Buffett / Fisher School ("internal compounding") rather than with Graham ("cheap assets").
