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Manchester, NH 03105
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CASE Investments
INVESTMENT DECISION-MAKING PROCESS
  • Identify companies possessing both of the following characteristics:
    • - Above-average returns on tangible capital.
    • - Significant free cash flow after deducting capital expenditures.
  • Determine the Normal Earning Power of the business.
  • Assess Safety, Profitability, and Value.
  • Determine the intrinsic value of the company based on its normal earning power.
  • Incorporate a margin-of-safety by purchasing the company’s stock or bond at a price that is less than its intrinsic value.