Consistent, independent and free of prejudice

Our investment strategy pursues a deep-value approach. It is based on the investing philosophy developed by professors Benjamin Graham and David Dodd at Columbia University in the 1930s. The focus was on "safety of principal and an adequate return" – a basic attitude that for us builds the foundation for investment decisions. We purposely distance ourselves from mainstream market chatter and daily price fluctuations. We invest countercyclically and for the long term. Our independence enables us to implement well thought-out strategies free of prejudices and trends.

Value investing means investing in undervalued securities. This requires a lot of experience in uncovering these equities in a global investment universe. The stocks selected typically are well-established firms with a long track record that have been temporarily overlooked, misunderstood, or heavily punished for a problem. Unjustified valuation discounts therefore offer attractive buying opportunities and can lead to above-average returns in the long run.

Rather than trying “to sell a product,” we maintain a long-term partnership with our clientele. Our business model appeals to strategically and independently thinking savers with a long-term view who are willing and able to stick with the strategy over a rolling duration of five or more years. Our approach requires the determination to be unwavered by short-term market fluctuations and, even better, to make opportunistic use of such ups and downs that are being rendered to us.

The distinction between investment and speculation in common stocks has always been a useful one, and its disappearance is a cause for concern.
Benjamin Graham

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Our business is to be owners of small slices of companies and to accumulate investment returns over a long period of time. A frequent purchase and sale of securities would impair, if not nullify, this cumulative effect.
SG Value Partners