Our investment approach is based on a fundamental, value-oriented analysis of corporations and economic and financial trends. We believe inflation, and the perception of future inflation, is the prime determinant of interest rates.

Unfortunately, analyzing perception is extremely difficult. Given this we believe interest rate changes cannot be accurately predicted, and as such we are not market timers. Instead, we focus the majority of our time on analyzing the yield curves and credit management.

Finally, we believe a careful analysis of various economic and financial trends, corporate balance sheets, and management interviews will allow us to provide above average investment returns.