To paraphrase Buffett paraphrasing Graham: We will neither be right nor wrong because the crowd disagrees with us. We will be right when our data and reasoning are right.

research-driven value
Blend rigorous modeling with
practical wisdom in the analysis of
Business + Value + People

Concentrate on
best ideas
Leverage intensive internal research

Index agnostic—must be different to
deliver superior results

Think...and act
The market will be inefficient—wait for it

The mathematics of compounding

Less is more