WE WILL ONLY BE SUCCESSFUL IF OUR CLIENTS ARE SATISFIED OUR PRIMARY GOAL IS THE SAFETY OF THEIR CAPITAL.
Mission
Our name reflects our mission. The Laurus nobilis is a type of evergreen tree indigenous to the Mediterranean. Its leaves were fashioned into a wreath and given as the prize in the Pythian Games, forerunner to the modern Olympic Games. We feel it acknowledges the highest standard – something we constantly strive to achieve on behalf of our clients.
The Laurus corporate philosophy
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We can only differentiate ourselves from the competition by the depth of our investment research.
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We can only be successful over the long term if our culture and principles are in sync with the capabilities and proficiencies of our entire team.
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We can only improve if we continually challenge existing norms.
Investment Philosophy
Our philosophy can be summarized as “Quality at a Reasonable Price“. Our investment goals have been consistent and straightforward: to provide our clients with satisfactory returns over the medium to long term while minimizing the risk of permanent capital loss. We do this through investing in a very concentrated collection of businesses we understand:
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that have a sustainable competitive advantage and superior returns well above their cost of capital;
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whose cash flows are expected to be materially higher over the next five to ten years; and,
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that are run by management teams with intelligence, integrity, and the energy to pursue excellence.
Unique Competitive Advantage:
We consider ourselves owners of businesses and not just people trading pieces of paper; our perspective is similar to the idea of buying the entire business. We want to own companies that have a unique competitive edge which will allow them to grow organically and at a rate faster than the economy.
High Free Cash Flow:
We prefer businesses that do not require a lot of capital to grow and where much of the growth will be a result of the company’s actions, therefore, providing high free cash flow. In other words, they generate a lot more cash than they need to maintain their operation.
A Rational Price:
Our first priority is to invest in high-quality companies that can compound returns over time. However, paying a rational price for an investment is also extremely important. We will only buy a business when it is trading at a discount to our assessment of its fair value.
