Through the disciplined execution of our small and mid cap investment approach, we seek to make money and manage risk — primarily business risk and valuation risk.
We believe buying the shares of a good business with credible and sincere management at a discount to Fair or Intrinsic Value gives investors several potential paths to wealth creation. First, the market may bid the shares to a premium over Fair Value. Second, management may grow the Fair Value over time at a faster rate than market appreciation. Third, the company may be bought by a larger company or private market investor.