KOVITZ INVESTMENT GROUP ANNOUNCES INTRINSIC VALUES
At Kovitz Investment Group®, we believe that Intrinsic Values is central to everything we do. Intrinsic Values encompasses our investment philosophy as well as our core beliefs on how we conduct business. From an investment perspective, it drives our entire philosophy. We focus our analysis on uncovering companies selling at a significant discount to our estimate of underlying intrinsic (or private business) value. From a cultural perspective, Intrinsic Values embraces not only how we treat our clients, but how we behave toward each other. We remain committed to our principles on how to treat people, manage money and advise on wealth, irrespective of how it may be viewed by others or how different our advice may be from the consensus.
We feel so strongly about this belief that we have changed our firm's tagline. Intrinsic Values perfectly describes our philosophy, values and steadfast commitment to our clients.
"Our investment philosophy is based in part on a simple premise: although stock prices often react to emotion in the short term, they generally trade toward fair value over the long term. If you can identify stocks of quality companies that are significantly undervalued, and have the fortitude to stick with them over the inevitable swings in sentiment, you will likely do better than trying to jump in and out of the market in hopes of correctly timing its pullbacks and advances."
Our competitive advantage in management of equity securities results from the disciplined application of our equity selection philosophy which is based on adopting a business owner mentality while adhering to a "Margin of Safety" principle. This methodology is applied consistently regardless of short-term market events.
While success in equity investing may be defined by our ability to generate long-term net worth, success in fixed income investing may be measured by how well we preserve each client's net worth. We believe our competitive advantage in the management of fixed income portfolios is our diligent execution process, which enables us to capture excess yield without accepting excess risk.
|Company||% of Portfolio|
|Wells Fargo & Company||4.9%|
|Bank of New York Mellon||3.5%|
|Bed Bath & Beyond||3.5%|
|Bank of America||3.4%|
|American International Group||3.4%|
|Since Incep. (1/1/97)||11.0%||6.9%|
View our most recent Fact Sheet.