The Principles

Only an excellent business bought at an excellent price makes an excellent investment. We must be satisfied about the quality of a business before we attempt to buy the shares at an attractive price.

  • Business Perspective Investing  »

    Business Perspective Investors start from the premise that there is no philosophical distinction between part ownership and outright ownership.
     



  • Valuation  »

    The moral of our approach is that only an excellent business bought at an excellent price makes an excellent investment. One without the other just won’t do.  


Investment Criteria

Our investment methodology is based upon the principle of Business Perspective Investing. We also run a concentrated portfolio of investments and try to keep portfolio turnover down. Companies selected for investment consideration must exhibit several important criteria: 

Comprehensible business model;

Transparent financial statements;

Enduring franchise with pricing power;

Consistent operational performance with relatively predictable earnings;

High returns on capital employed;

Strong free cash flow;

Strong balance sheet;

Management focused on delivering shareholder value; and

No undue reliance on acquisition-led growth. 

     

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    Sanford DeLand Asset Management

    8th Floor
    111 Piccadilly
    Manchester
     M1 2HY
     
     Tel. 0161 233 8696
    contact@sanford-deland.com

  • Sanford DeLand Asset Management is a trading name of Castlefield Investment Partners LLP (CIP), used under licence. CIP is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange. Registered in England & Wales No: OC302833. Registered Office: 215-219 Chester Road, Manchester, M15 4JE. 
     
    Please note that Warren E. Buffett does not endorse or sponsor the CFP SDL UK Buffettology Fund.

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Sanford DeLand Asset Management

8th Floor
111 Piccadilly
Manchester
M1 2HY

 

 Tel. 0161 233 8696

contact@sanford-deland.com

Sanford DeLand Asset Management is a trading name of Castlefield Investment Partners LLP (CIP), used under licence. CIP is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange. Registered in England & Wales No: OC302833. Registered Office: 215-219 Chester Road, Manchester, M15 4JE. 

Please note that Warren E. Buffett does not endorse or sponsor the CFP SDL UK Buffettology Fund.