All investing comes with risk—the possibility of permanent capital loss. In order to minimize our client’s exposure to risk, Mraz and Associates endeavors to invest in well-managed, financially stable (strong balance sheet), publicly traded companies selling at deeply discounted prices.
Our investment process incorporates a long-term investment horizon and asset low turnover, shielding us from the downsides of short-term market turmoil. By focusing on the long run, we avoid losses due to panics and irrational fears. We stand by our investments, and only sell a security when:
Our investment process incorporates a long-term investment horizon and asset low turnover, shielding us from the downsides of short-term market turmoil. By focusing on the long run, we avoid losses due to panics and irrational fears. We stand by our investments, and only sell a security when:
- The stock price exceeds the current appraised value of the company.
- A portfolio’s risk/return profile can be improved substantially.
- A business' earnings power is permanently impaired.
- Management proves incapable of building value and replacing leadership.