Invest ONLY when the price is right
We take advantage of market inefficiencies when the market at times over reacts to a ‘bad news’. Covid or financial crisis were two such times when there was a once in a lifetime opportunity to invest in some exceptional businesses.
If a company has a bad quarter and misses its guidance, market sometimes becomes too pessimistic. This might lead to a low valuation for an otherwise excellent business, and we do not hesitate to use these opportunities to invest in the businesses.