We like to hold shares in companies that we would be confident in owning outright.
Are we willing to buy the whole company?
If YES then we become long-term stakeholders or “silent partners” by owning a piece of the business.
Our philosophy will steer us towards holding or looking for investments in companies which are neglected, out of fashion or are misinterpreted by investors.
As a consequence some holdings will be contrarian when compared to the general view of the markets.
As value investors we will stand by our convictions even when our views diverge from consensus.