Investor's Manual
WE WORK HARD TO
KEEP THINGS SIMPLE
We believe even the most complex of issues, after digging into details and comprehending their underlying nuances, can and should be distilled into the answering of two simple but fundamental questions:
1. Is the business being evaluated likely to be around 10 years from today with its vitality intact, at a minimum? Is this vitality growing, even accelerating?
2. Is the business available today at a price we deem acceptable in relation to its intrinsic value?
Read Our Investor’s Manual
We believe even the most complex of issues, after digging into details and comprehending their underlying nuances, can and should be distilled into the answering of two simple but fundamental questions:
Why Are We Different?
11O’CLOCK:
OUR NORTH STAR
The principle of entropy in action and the cycle of capitalism suggests that most organizations eventually fail. Success leads to Complacency. Complacency leads to Failure. This is the cycle of capitalism. To get from Failure to Hunger is rare and to get from Hunger back to Success is rarer still. We put all our efforts to try and identify teams and businesses that are perpetually hungry to succeed and operate at the metaphorical 11 o'clock.
We have a tested process to identify teams that operate at this 11 o'clock with a healthy paranoia to continuously acquire and act on knowledge; teams that care about the foundational aspects that culture can bring to bear.