We follow value investing principles to invest in Emerging Markets. Our current geographical focus is India.
The average Indian is young; at least a decade younger than his Chinese, American or European counterpart. He is richer than he has ever been. He's more educated than he has ever been. He spends more. He consumes more. And he will continue doing so, for a long time.
Many companies, global and Indian alike, will clamor to serve his needs. Very few will be able to sell the right product, at the right price, while still remaining profitable. Fewer still will fairly share these profits with their minority shareholders. Our job is to find these companies and buy portions of them at the right price.
To learn more about our approach read our letters.