Four principles, intrinsic to KRIIS since inception.
We are value investors. We buy businesses, not stocks, and we buy them only when the price is wrong.
The method is Graham’s, as Buffett refined it: treat every holding as a share in a business, work out what that business is honestly worth, and buy it for meaningfully less. Price is what you pay; value is what you get.
We look for durable competitive advantage, honest and able management, and earnings that reinvest at a high rate of return, and we look for them among small, micro and emerging companies, where the discount is still there to be found.
01
Buy the businessEvery holding is a part-ownership in a real company, judged on what it earns and what it can reinvest.02
Margin of safetyA good business bought carelessly is still a bad investment. We buy only when price and worth leave room between them.03
Emerging, not establishedSmall, micro and emerging companies with long runways, where diligence still creates an edge and coverage is thin.04
Time is the multiplierCompounding needs years. Our holding periods are set by the business, not the quarter.Four tests every business must pass before it earns a place in the portfolio. Failing any one of them is enough to end the conversation.
Six stages between an idea and a position. Select any stage to see what happens in it.
Not every risk to your portfolio is the same risk. We separate the ones that can permanently destroy capital from the ones that only feel like they might, because they call for entirely different responses.
Position, sector and liquidity limits are internal guidelines applied at the strategy level and may be revised. They are not guarantees. Investments in securities are subject to market risks, including the risk of loss of principal. Please read the Disclosure Document carefully before investing.
