We use a disciplined, fundamental research approach to identify companies with financial strength, consistent growth, quality management, and sustainable competitive advantages. We add value through our extensive internal research process, which includes analysis of both the broad economy and each individual security.

We use a screening process to narrow our list to a subset of companies that meet our strict requirements for quality, profitability, and growth. At the same time, we read the economy, seeking to determine prominent economic themes, such as consumer spending or business investment, that help us focus on specific areas of the market.

For each company under consideration, we perform an in-depth fundamental analysis, carefully evaluating the products, services, strategies, and management. We look for competitive advantages and, specifically, how each company turns its advantages into profits and future sustainability. Finally, we establish a price that we are willing to pay for each stock.

Through this rigorous, multi-step process, we narrow the list to approximately 25 companies that we believe have strong potential for stock price appreciation and that will complement one another in a diversified portfolio.