Our investment philosophy is founded on four principles: asset allocation, portfolio structure, stock selection, and continuous portfolio management. We believe the application of this philosophy can add value by enhancing returns, reducing risk, and increasing the likelihood that our investors achieve their goals.
Spyglass employs a blended large cap growth and value approach in selecting stocks, while placing a strong emphasis on research and fundamental analysis when managing equity portfolios. Our intent is to invest in companies that we want to own for an extended period of time. We seek maximum capital appreciation and look for the following characteristics, on average, in the companies in which we invest:
* Market capitalization of $5 billion or more.
* Stocks that show financial strength and industry leadership.
* We search for businesses whose stock prices appear to understate the company's reasonable potential.
While Spyglass employs, and remains true to, a large cap blended style, we also believe that exposure to small cap stocks and some international exposure will create consistency and enhance long-term portfolio returns. Since these styles are outside of our area of expertise we look to specialized money managers and/or mutual funds to achieve the desired diversification.
We firmly believe that diversification of the portfolio by economic sectors, industries and individual issues is essential to enhancing overall return and reducing risk and volatility.