INVESTMENT PHILOSOPHY

• Excellence:
  We are committed to achieving superior performance through superior research and to maintaining strong and personalized client relationships.
• Risk Management:
  We strive to control risk through our disciplined screening process for quality securities, our strict focus on bargain prices, our construction of diversified portfolios, our use of stop orders, and our no-leverage policy.
• Boutique Size:
  Our limited amount of funds under management allows us to enter and exit positions quickly and inexpensively. This agility sets us apart from the multi-billion dollar funds whose large size drags down performance, usually below their benchmarks.