Over our nearly 2 decades as wealth advisors and investors, we have developed our own philosophy and investment strategy. The core of this philosophy is based on the "multi-strategy" approach of Stanley Drunkenmiller and "value investing", founded by Benjamin Graham and popularized by Warren Buffett, and Charlie Munger.
Stanley Drunkenmiller is a legendary macro investor who makes investment decisions based on his top-down macroeconomic perspective combined with a bottom-up fundamental approach. Although he may utilize value investing principles in his stock picking process, Druckenmiller's investment strategy is more focused on macroeconomic trends such as Fed policy and geopolitics, market sentiment and pricing, risk management and flexibility.
He is not limited to any specific investment style or asset class as he seeks out opportunities across various investments, using his analysis of market conditions and trends, and prioritizes risk management and position sizing to achieve maximum returns while minimizing losses.
The second pillar of our investment philosophy is "value investing" which is principally derived from the work of the late Benjamin Graham, professor at Columbia Business School, and two investors we greatly admire that have helped popularize it; Warren Buffett, CEO of Berkshire Hathaway, and polymath Charlie Munger.
At the core, value investing is focused on determining the “Intrinsic Value” (our estimate of an investments value) and the “Margin of Safety Principle".
Every company we invest in is analyzed, where we estimate its "Intrinsic Value." The “Intrinsic Value” is then compared to its current market value to determine the attractiveness of the investment. In order for Maredin to invest, an investment must be made at a significant discount to the "Intrinsic Value" [normally 40-60% below it], which simply means that we are buying it with what we believe to be a built in "margin of safety" (as Benjamin Graham called it).
Combining the investment philosophies of both Stanley Druckenmiller and Benjamin Graham to help our clients succeed in the market. We believe in taking a macroeconomic view of the market, similar to Druckenmiller, while also applying fundamental analysis, as advocated by Graham. By focusing on broad economic trends and events, as well as conducting in-depth research on individual stocks and their intrinsic value, we aim to identify undervalued opportunities in the market with potential for long-term growth. We also prioritize risk management and position sizing, to help our clients maximize returns while minimizing potential losses. Our goal is to provide our clients with a well-rounded investment approach that takes into account both market conditions and fundamental analysis.