Tweedy, Browne & Co.
Market Wizards Index: +15%
Compound annual over 20 years
Fund or affiliation
- TBK Partners
Methodology
- Stand ready to buy small amounts of large range of different issues at 2/3 of net current assets, then sell again at 100%.
Research/ Valuation Techniques Employed
- Absolute true follower of Benjamin Graham’s rules.
- Net current assets are reduced further by every conceivable charge, including future lease obligations.
Trading Techniques Employed
- Stand ready to buy small amounts of large range of different issues at 2/3 of net current assets, then sell again at 100%.
Philosophy and beliefs
- Mediocre management usually sells for a bigger discount than it should.
History and other facts
- In 1980, they managed about $850M and tend to have an inventory of over a thousand items.
Performance Record
- 15% over 20 years: "TBK has enjoyed a 20-year compound growth rate of well over 15%, deducting all expenses, but before tax."
All International Welcome Messages: 1, 2, 3, 4, 5, 6, 7 & 8
