Investment Philosophy

The future is uncertain, and the stock market personifies that. Shares fluctuate daily as market participants buy and sell based on the prevailing mood about the future earnings of companies. Trying to successfully time the market on a short time frame is challenging, and to consistently do so over the long term, is near impossible.

​

That is why I believe the first step to market out performance is to be invested for the long term. The second is to only invest after thorough fundamental research to ensure a deep understanding of the company and it's intrinsic value. Investing with a sufficient margin of safety provides high-return opportunities and minimizes downside risk, as explained by Benjamin Graham in his book Security Analysis.

I don't place a limit on the size of company, but often find that value is more commonly found in smaller-cap stocks that go ignored by institutional investors. I may invest in any industry, but remain mindful that a thorough understanding of a business is easier to obtain when investing within your circle of competence.

​

I like to buy these undervalued companies and avoid the noise of the daily news cycle as I wait for them to inevitably return to fair value.