An alternative investment manager.
By introduction.
NorthGate Asset Management
How we work
We would rather own a few businesses we have studied closely than many we have only skimmed. Conviction is expressed by position size, not by the length of a list.
We are willing to wait — first for the right price, then for the market to agree. Value tends to be recognised slowly and then all at once, and we sell when that gap closes rather than when a calendar says to.
We buy at a discount to our own estimate of worth, or we do not buy. Most of the work is reading, and most of the decisions are to do nothing.