Investment Approach

• We particularly favor companies that can generate long term earnings growth and excess cash flow.
• We look for companies with sustainable double digit earnings growth and cash flow growth, which we believe are rare and often underappreciated by the market.
• We aim to capitalize on the differences between cyclical and secular growth.
• We seek to take advantage of near-term trends that can often be overemphasized by the market.
• We favor companies with strong management teams and thoughtful capital allocation to exploit these secular trends and bridge cyclical difficulty.