We seek to purchase shares of companies that meet three basic criterions:
High quality businesses with ample reinvestment
opportunities
Run by intelligent management invested alongside
shareholders
Reasonable price for the present and future prospects
Durable businesses
A business which has durable competitive advantages that
allows it to generate high return on its invested capital; has very low
financial debt and has opportunities to reinvest their earnings through more
products and services or buying ownership in other businesses in part or in entirety.
Intelligent managers and owners alongside
CEO and management who have demonstrated intelligence,
integrity and energy for their business over the years and invested large
amount of their own money alongside the fellow shareholders.
Reasonable price for the present and future prospects
We like to pay no more than 15 times of current cash earnings to be part owners of the business.
We like to pay no more than 15 times of current cash earnings to be part owners of the business.