FORUM is a value investor by skills and by heart. We see three principles as the core of value
investing and of what we do:
- Owning a business vs. owning a piece of paper. This requires a deep understanding of the fundamentals of a business and knowing its intrinsic value.
- Margin of safety. Only buy when an opportunity is outstanding. Do not hold stock if it does not give you a margin of safety any more.
- Mr. Market. View the stock market as a business partner full of psychological biases – which you should exploit. Do not view him as an authority.
These principles determine
- what we do
- what we strive to be good at
- what people we are looking for
