We see investing as placing current value at risk with the expectation of realizing greater value in the future. Our investment management process identifies and exploits the arbitrage between these two values. There are three underlying tenets:

1. Companies with earnings growth potential offer a longer investment horizon, providing the investor with more opportunity to realize excess returns.  
    
2. There are inefficiencies in how the market values the long term prospects of a company.  
    
3. Risks inherent in an uncertain future can be reduced through diversification