HOW WE WILL INVEST FOR YOU

In building an investment portfolio customized to achieve your life goals, you can expect Karpas Strategies’ investment process and discipline to:

• Invest in well managed companies with proven management teams that strive to build shareholder wealth.
• Invest with an initial time horizon of 3 to 5 years.
• Employ company-by-company fundamental analysis to formulate our view of the intrinsic value of each investment.
• Take advantage of opportunities that allow shareholders to benefit from short-term market emotions. Markets can be inefficient in the short-term, creating opportunities to purchase great companies for the long-run that are selling at market prices below their intrinsic value.
• Consider companies that are involved as leaders in their communities and around the globe, and genuine in their commitment to acceptable Environmental, Social, and Corporate Governance (ESG) practices.

 

TAKING THE LONG VIEW

Our objective is to be long-term shareholders in companies recognized as:

• Strong global leaders with formidable balance sheets.
• Companies that are underfollowed or overlooked but have strong business fundamentals.
• Contrarian investments which we make on a selective basis where the risk/reward trade-off appears favorable.

We firmly believe in a disciplined, consistent investment process. Karpas Strategies employees and their family members often own the same investments as our clients. This partnership in investing helps to ensure that our objectives are aligned.

Our clients’ portfolios typically have low turnover, as we strongly believe in the long-term benefits of compounding (i.e., generating earnings from the reinvestment of previous earnings). In other words, when we invest for you, our intent is to own an asset forever. This does not prevent us from exiting an investment, and sometimes we do.

 

 

BALANCED DECISIONS

We will sell an investment when:

• Your priorities and objectives change. For example, a pending significant life purchase, or a need to raise cash for other specific needs.
• Corporate actions force a decision. For example, a cash tender for shares, or the merger or acquisition of a company.
• Company business fundamentals decline beyond our expectations.
• Other investments offer potentially better returns, or we identify the need to reduce overweight positions in a portfolio.
• A company’s share price achieves our investment objective.