Our Investment Philosophy

We own businesses, not tickers. We buy only what we understand deeply, when the price offers a meaningful margin of safety. We seek durable competitive advantages that can compound intrinsic value over decades. We want to partner with management with unquestionable integrity, proven capital allocation skills, and skin in the game. Volatility is opportunity, not risk. We concentrate capital in my highest-conviction ideas, and we hold them as long as the businesses deserve our ownership. We remain patient — even idle — until the market offers us a great business at an irrational price, and when it does, we act decisively. The macro environment is God given, so we focus primarily on the micro realities of the businesses we own. Invert every idea to find what kills it before betting on what builds it.