Our Approach:

Our attitude may seem old fashioned in a world of hyper activity, but we intend to ignore the crowd so we can grow and compound our patient permanent capital.

We follow two axioms regarding our approach:

As Buffett put in his 1986 Chairman’s letter:                                                                                                                   “We simply attempt to be greedy when others are fearful and fearful when others are greedy.”

AND;

As Benjamin Graham stated:                                                                                                                                              “In the short run, the market is like a voting machine, but in the long run, the market is like a weighing machine.”