“…we can and do control the process by which we invest. This is what we should focus upon. The management of returns is impossible, the management of risk illusory, but the process is the one thing that we can exert an influence over.” - James Montier

Investment Process

Our investment process, which we call ‘Grade A’ Manitou, is fueled by independent quantitative and qualitative analyses combined with sound judgment. It is a process grounded in discipline and in the inherent knowledge that investing in quality companies protects capital from permanent loss and purchasing the stock with a margin of safety provides significantly greater appreciation opportunity when a company’s true value is recognized.

Each Manitou investment must fit within a defined set of criteria and be supported by a thesis that clearly articulates how expected results will be achieved within a reasonable time frame. Final investment decisions are made when we arrive at the best possible assessment of each prospective company’s business, people and price.