Redefining value: From style category to investment discipline For us, valuation is foundational—but never isolated We assess it in the context of business quality, capital allocation discipline, and the sustainability of earnings growth A good illustration of this approach can be found in our forward-looking pipeline of potential investments
Redefining value: From style category to investment discipline In this paper, we explore the fluid nature of value classifications, outline how we assess intrinsic value, and how our process allows us to identify and act on value where and when we see it emerge
Quality vs. Value: Two Disciplines, One Stronger Portfolio One way to think about the difference between quality and value is through valuation Growth stocks typically trade at the highest valuations, reflecting expectations for rapid future expansion, while value stocks usually trade at the lowest valuations
Investing Styles Explained: Value, Growth, Quality Investing styles are frameworks investors use to decide what kind of evidence matters most when evaluating investments, such as valuation, growth, business quality, market context, or company-specific fundamentals
Investment Styles: Value, Growth, Quality and GARP Use growth investing when the main question is whether expansion in revenue, earnings, cash flow, or addressable market can support future value Use quality investing when the main question is whether the company’s economics, competitive position, and balance sheet can hold up over time
Quality-Growth Investing: Digging in the Right Sandbox But, even today, we don’t think of our investments as falling somewhere along a value-to-growth continuum—a flawed framework, in our view, because it relies on both fundamental metrics and valuation metrics, blurring the distinction between company attributes and stock prices
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