We provide personalized service with an in-depth understanding of our client’s goals and financial circumstances. Security selection, asset allocations, purchase guidelines, and tax management are customized to a client’s needs. Each account is individually managed. We seek value over the long term by identifying companies with quality management, a proven track record, a competitive advantage, sound financials, and the opportunity for growth. Other factors we look for are a low cost of raw materials, a modest political profile, a high return on stockholders' equity, free cash flow, and a material management stake in the business. With decades of experience, broad institutional and company access, we conduct independent fundamental research. Research is conducted with an eye towards being owners — not traders. We build concentrated portfolios that are risk-managed without over-diversification. The holdings are rebalanced and only sold when there is a change in fundamental investment thesis or the valuation changes relative to our growth expectations. Fixed income securities are usually held to maturity.