Three partners launched our firm in 1980 to provide value-oriented portfolio management to organizations and high net worth individuals. More than three decades later, we continue to invest in what we believe are high quality companies with attractive valuations – just like the original partners did. Our value philosophy is based on our view that earnings always matter. We believe high quality, sustainable earnings should contribute to producing excellent longer-term value-added results. We invest using a strict discipline in an effort to ensure we do not overpay for these earnings. Valuation is our key focus and is the primary determinant of long-term outperformance.