Victrix Investment Advisors
Warren Buffett wrote in his 1982 letter to shareholders, “The market, like the Lord, helps those who help themselves. But, unlike the Lord, the market does not forgive those who know not what they do.” Searching for undervalued securities is the equivalent of searching for the proverbial needle in a haystack. If you do not have the time or expertise, let Victrix find those elusive needles for you, and profit from them.
Aligned. As stewards of your capital, we invest a significant portion of our personal wealth, and that of our family and friends, in substantially similar portfolios to yours. This eating our own cooking aligns our interests yours.
Catalysts. Portfolios display a preference for special situation investments, which have a specific catalyst to drive value realization.
Discipline. Though constantly seeking to improve our portfolios, we invest infrequently, only after we have done extensive analysis and developed high conviction. Assuming our investment thesis and estimate of intrinsic value are unchanged, we view stock declines as buying opportunities.
Flexible. We are opportunistic by looking for value anywhere without asset class limitations. Over the course of several market cycles, investors will notice a preference for small cap U.S. equities.
Focus. We hold a relatively small number of securities that represent our best investment ideas. 15-20 securities is typical. There may be clustering within an industry or sector, however diversification is achieved through different value realization drivers.
Quality. We prefer to buy great companies at good prices but are willing to buy lower-quality companies if the security is cheap enough.
Risk Averse. We believe that successful investing begins with avoiding losses. Our emphasis on “winning by not losing” protects capital from permanent loss.
Value. We employ a Value-oriented, in-depth fundamental research process to uncover systemically mispriced securities. To us, Value investing means a sensitivity to price in relation to value across a broad range of possible outcomes.