We are an independent advisory firm inspired by a value investing philosophy. We have no affiliations, and rely exclusively on our own work of research and analysis.

Value investing is buying a dollar for fifty cents. How? By knowing the value of what you want to buy and having the discipline to buy it only when its market price is significantly below its value. The difference between value and price determines an investment’s margin of safety: the larger it is, the more protected is the invested capital. We do not stop there, though. We look for dollars priced at fifty cents, but we want those dollars to grow substantially over time. That is why we only invest in high-quality companies. High-quality companies earn high returns on capital and can compound their value for long periods of time.


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