Steady in the face of fleeting trends and fancy finance jargon, we use our entrepreneurial experience to invest as business owners for the long-term. We thereby strive to understand the few underlying characteristics of the business and the according investment that primarily determine the outcome.
Cultivating the Independent Mind
Unswayed by the short-term noise of the world, we seek to find dependable insights that hold true over the long-term. We understand that in applying these well tested, simple principles the ultimately decisive factor is our ability to control the mind, stay disciplined and keep our composure in the turmoil of the market.
Investing the Shoshin Way
Originating in Zen Buddhism, the concept Shoshin can be translated as 'beginner's mind'. It refers to having an attitude of openness, eagerness and lack of preconceptions when studying, even at an advanced level.
This attitude we see as key for the sustainable long-term success of any securities investor in applying the proven, timeless, and simple rules of value investing to the complex, ever-changing opportunity set that the intersection between the market and the investors' psyche constitutes. We believe that by approaching each company with a "beginner's mind", we can remain open to new ideas and opportunities while avoiding the pitfalls of overconfidence and complacency that past successes especially in random markets breed. It is out of this approach and quality of mind that extraordinary investment opportunities beyond the current consensus are conceived, executed, and seen through.
Remaining clear and calm in the storm allows us to act with vigor after an extended period of inaction, once an exceptional opportunity comes along that meets all our investment criteria. In these situations, we hold it with Buffett to 'put out the bucket when it rains gold' and take a substantial position in our concentrated portfolio.
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