INVESTMENT STRATEGY
Principles

Our investment universe consists of daily traded stocks and bonds.

How we invest

  • We are active managers.
  • We have a long-term investment horizon.
  • We invest globally and only in liquid securities..
  • We invest in high-quality business models that are difficult to replicate.
  • We take chances where we see them.
  • We seize opportunities when and where we see them.

How we do not invest

  • We do not invest in anything we do not understand.
  • We pay heed to the debt-to-equity ratio
  • We do not do market timing.
  • By and large, we avoid derivatives..
  • We do not hedge currencies.
  • We do not rely on the "greater fool theory".
  • We are not dogmatic.