We should have the same investment returns as our clients, so our money is invested alongside theirs.

Change is the genesis of investment opportunity. We focus on change to find mispriced stocks.

Successful investors exploit the errors of others. The more clarity we have about why others are wrong, the more likely we are to be right.

We protect capital by investing only when we see a large gap between price and value.

Investing rewards discipline as much as brainpower. Critical to our investment process are measures to make our decision-making more rational and less emotional.