1. Investing is contrarian at heart. We seek to own companies before the crowd and exit when the crowd insatiably demands them.
"The intelligent investor is a realist who sells to optimists and buys from pessimists."
2. In a world of short-termism, a long-term mindset can be our greatest edge.
"Patience can produce uncommon profits."
3. Financial markets are living, breathing entities that require dynamic reassessments. We do not rest on our laurels.
"In investing, what is comfortable is rarely profitable."
4. A broad universe is a competitive advantage. We invest where our research takes us rather than limiting ourselves to specific styles, sectors, sizes, or geographies.
"There's always a bull market somewhere."
-Overheard on Wall Street