Applying our long-term investment strategy, we seek accretive business combinations that can result in positive cash flow and increasing shareholder values. As Albert Einstein once stated: "The most powerful force in the universe is that of compounding." However, compounding of returns only works with investments that have NO downside risk. Declines destroy the effect of compounding rapidly. This is why we employ these investment guidelines to all our subsidiaries.
- Investing is not a competition. There are no prizes for winning but there are severe penalties for losing.
- Fundamentals and Economics drive long term investment decisions.
- Investment is about discipline and patience.
- No investment strategy works all the time. The key is knowing the difference between a bad investment strategy and one that is temporarily out of favor.