Investment Approach

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.