Portfolio Construction
We do not manage to
an index but rather use experience and judgment to construct
client portfolios. A client’s portfolio is built
from the bottom-up, one stock at a time. Every idea is
assessed on the basis of its own unique growth, quality
and valuation characteristics. Relative position sizes
are a function of the strength and sustainability of the
investment's underlying business model, our perceived
information edge, and the identification of catalysts
that we believe will drive future investment returns.
Furthermore, we believe a focused investment portfolio
of businesses, with extraordinary risk/return profiles,
generates superior long-term performance. Accordingly,
the portfolio is structured to provide an optimal level
of both concentration and diversification. We have a long-term
focus that optimizes a client’s portfolio for after-tax
returns. |
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