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Our philosophy is the bedrock of our investment process.
Click to review St. James Process Overview
Our proprietary investment research seeks to determine the appraised value of a company. Investments are then made at a significant discount, normally 30% to 50% below the company's current intrinsic value.
This approach allows us to buy companies with a sufficient margin of safety, as valuations are imprecise and the future is unpredictable.
Defining risk as the permanent loss of capital, we believe that the quality of investment decisions is far more important that the quantity of investment decisions.
Our process demands that we not trade stocks, but rather consider businesses we would like and purchase and hold for 5 to 10 years. We therefore mitigate risk via a thorough examination and understanding of each business we fractionally own.
Patience and discipline are necessary in the absence of obvious bargains.
As great ideas are often scarce, it can take a long time for the market to present truly compelling opportunities that coincide with our circle of competence. As a result, we are content to hold cash until our patience is rewarded.
Ultimately, entry price is a significant determinant of return.
"What's nice about investing is you don't have to swing at pitches. You can watch pitches come in one inch above or one inch below your naval and you don't have to swing. No umpire is going to call you out. You can wait for the pitch you want."
- Warren Buffett
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2716 Fairmount Street
Dallas, TX 75201
222 East Main Street, Suite 328
Smithtown, NY 11787
214.484.7250
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