As value-focused investors, our team believes that markets are not perfectly efficient, and that identifying mispriced securities, though extremely difficult, represents an opportunity for potential outperformance.
The foundation of AltraVue’s investment approach is a deeply thoughtful and rigorously-researched variant perspective. With each new investment opportunity, we must answer the tough question of what is it that we see differently from the market. We believe that if we cannot identify and credibly substantiate our differentiated view, then chances are that we know nothing more than the market. Under such a scenario, we believe that we are destined for market returns at best, but more importantly will not have created any value for our partners.
After 18 years in varied and dynamic investment roles, we strongly believe that the successful implementation of our investment strategy relies on rigorous fundamental analysis and a disciplined investment process. We believe that a relentless and patient application of both greatly increases the odds of us preserving capital while simultaneously generating attractive long-term returns for our partners.
At AltraVue, the process of identifying and cementing our different view is a function of the following three factors:
We search for value where market inefficiencies are the greatest.
We understand and assess value from multiple perspectives.
We stand ready to exploit and gain from institutional and behavioral biases.