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 Value Investing Philosophy
Our mutual success is determined by our ability to both build and preserve capital. Therefore managing risk is the key to delivering attractive long-term results. We consider how much we might lose on a new investment before we consider how much we might earn.
We are not proponents of The Efficient Market Hypothesis; our belief is that equity markets are less than perfectly efficient. Due to the many competing agendas of market participants often times equities are mis-priced by the market. We strive to take advantage of these inconsistencies when prices are low and sell equities when they become overvalued. As Ben Graham has stated “In the short term the market is a voting machine, in the long term it’s a weighing machine”
We are value investors, who invest in companies that we believe trade at a substantial discount to what we consider to be their intrinsic business value. We are patient investors, not market timers. History shows that, over time, the price of a stock will rise to reflect the value of the underlying company. Every stock purchase is viewed as if we were buying a piece of a business.
Triton Capital consistently seeks high-quality, well managed businesses that can be purchased at value prices and held for the long term. We adhere to a rigorous price discipline, and pay careful attention to the valuations and earnings multiples of every company we own or consider for investment.
Investing requires patience, a long-term investment perspective, and a watchful eye of investment “fads”. For this reason, we concentrate on the underlying economic and business fundamentals of each investment, and maintain an old-fashioned emphasis on rigorous investment research to identify opportunities for value investment.
Value Investing Process: Our value investment process emphasizes fundamental research, using both quantitative and qualitative techniques
Value Investing with Fidelity Finance: Fidelity is the largest privately owned financial company in world and has one of the industries most technologically advanced platforms.
Value Investing Portfolio - Summary and Performance: Sector Allocation, Positions and more.
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