1. We prioritize Simplicity & Alignment across all organizational and investment decisions

2. We believe that the most important competitive advantage of an investment firm is the  Quality, Alignment and Duration  of its capital base – in other words, its clients

3. We optimize for Duration of client relationships over size or assets under management (AUM)

4. We strive to be Patient – both in our search for new investment opportunities and new client partners

5. We endeavor to strip away behavioral constraints, organizational barriers, and sources of misalignment which reduce the odds of superior long-term investment performance

6. We believe in the importance of Humility – investing is humbling; markets are humbling; and serving as a fiduciary and steward of our clients’ assets is a tremendous responsibility