Our Mission: We aim to generate superior long-term returns while minimizing risk. As major investors in the fund, we have the same interests as our investors.

Investment Framework: Our fund is built on two fundamental principles. First among them is avoiding a permanent loss of capital. The second is generating above-average returns. We put these principles into practice by:

·  Buying good businesses that are easy to understand and have a margin of safety.

·  Taking a "best idea" approach to stock selection.

·  Investing with a long-term perspective.

·  Holding a concentrated portfolio.

·  Staying in tune with economic and market cycles.

·  Using hedging strategies to reduce risk and to profit from a volatile market.