Our Process

We believe that overlapping research responsibilities make for healthy dialogue. We like to call it a "harmonious tension of opposites." Moreover, an integrated process like ours reflects the way that the investment process actually works. Common factors apply across different types of securities. We are convinced that dealing with cyclical and growth companies, bonds and stocks, and domestic and international securities enables us as a group to make sounder decisions about individual securities. This collaborative process also provides us with a base of knowledge for making judgments in the future. Our basic approach has remained constant over two decades, although we have regularly fine-tuned it.

In our coordinated approach, the same team that manages balanced portfolios also handles bond portfolios, so that we have a good "feel" for the wider market environment when we construct our equity portfolio. This can be critical in making calls about individual securities.

We continuously review the equity portfolio to ensure quality control. Because of our discipline of writing down all the pertinent details of every investment, as well as the basis for selecting it, we maintain a substantial audit trail that helps in tracking the effectiveness of our research inputs.

Corporate Values

Investment Values

Our Process