Strategy

DCO seeks to generate attractive returns for its investors by investing in a limited number of undervalued securities, issued by businesses with a durable competitive advantage and favorable long-term economics.

We are not constrained by sector, industry, or market capitalization in seeking investment opportunities.

Clients' portfolios typically consist of between 12-24 holdings.

The goal of DCO's investment strategy is to outperform the S&P 500 over the long term in a tax-efficient manner with low turnover.

"The number one idea is to view a stock as an ownership of the business and to judge the staying quality of the business in terms of its competitive advantage.  Look for more value in terms of the discounted future cash-flow that you are paying for. Move only when you have an advantage."   - Charlie Munger

"The market is there only as a reference point to see if anybody is offering to do anything foolish.  When we invest in stocks, we invest in businesses." - Warren Buffett