Constant Pursuit of Value
Our strategies all share a common investment philosophy, one where we constantly pursue the best value in the markets to achieve superior risk-adjusted returns. As a result, we invest based on:
Equity Investment Strategy
Focusing on companies that are not efficiently priced by the market. To find these opportunities, we search for companies that:
 | Can be valued with a high degree of confidence |  |
| | Are market leaders |
| | Have a proven record of returning cash flow to shareholders |
| | Generate excess free cash flow |
| | Carry low debt and have strong balance sheets |
| | Have proven management |
Fixed Income Investment Strategy
Managing high yield investments to provide consistent performance that is superior to that of investment grade issues through a careful selection process that typically focuses on the upper and middle tiers of High Yield credit quality. We seek companies that:
| | Generate predictable free cash flow | | | Repay debt | | | Are backed by tangible assets | |  |
Balanced Investment Strategy
Combining our All-Cap Equity investment strategy and its High-Yield Fixed Income investment strategy, allocating assets among stocks and bonds based on where we find attractive valuations.