I was after managers who follow the value discipline of Ben Graham and Warren Buffett. I wanted emerging deep value, big margin of safety managers. They had to be the right size, less than $100 million, small enough to be flexible but large enough to have proven the commitment and discipline I require for my own extremely demanding investment standards.

When we find a manager who meets these requirements, I call on him in his office. I don’t make just one visit. I make ten. (It takes about two years.) I check his consistency, discipline and commitment to value investing. I check each department and the backgrounds of all principals and department heads.

At the end of the process I know that manager's operation almost as well as he does. Then, if I have confidence in his ability, his integrity and his discipline, I will probably invest some of my assets with him. And I continue to carefully monitor subsequent behavior and performance.

In ten years I have found twelve managers that I feel comfortable investing with. They manage the majority of my liquid assets. They all asked me to represent them, but I limited it to four. Today I feel more strongly than ever that the emerging managers I represent, now proven in the market place and unburdened by vast portfolios, are ideal for institutions. If you are a first-time visitor to our website, or if you would like to receive material about our work, please call, e-mail or write to me personally. I love the investment business, and would be very happy to share my thoughts and experience with you. This website is intended for Qualified Institutional Buyers. Please contact us to gain access to information about investment managers represented by Collins BIS.