Fund Investment Philosophy

For investments the ACI Partnership Fund adheres to a disciplined, fundamental value approach.   The fund utilizes an opportunistic investment process that analyzes companies from the bottom up with a focus on balance sheet analysis first and potential market dislocations second.   Our partnership also seeks absolute returns for our limited partners over the long term, versus a relative return to a benchmark, while minimizing investment risk.

The ACI Partnership Fund believes the more inexpensive you buy something for, the greater the potential investment reward.   Among other things, the more inexpensive you buy, the less the inherent risk.   The low price paid provides a margin of safety which reduces the downside market risk.

Our approach to both the balance sheet analysis and the company's managerial demonstrated capabilities concentrates on "what does it mean" in terms of understanding a business, in contrast to "what does the crowd think."   For the Partnership, since stock market prices do not determine business value, we do and will take market risk, but constantly challenge ideas to limit investment risk.

What The ACI Partnership Fund Looks For

One proven value philosophy as illustrated by the written works of Benjamin Graham, Warren Buffett, and Marty Whitman guides each of our investments.   We seek to invest in safe companies that are cheaply priced:

Investments Exhibit
  • Strong finances
  • Competent management
  • Understandable business
Investments Are Cheaply Priced
  • Significant discount
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The Fund analyzes companies from the bottom up, reviewing all public documents, the management's paper trail, identifying value and risk drivers before making an investment decision.   In the analysis of a company, both the quality and quantity of resources existing in a business are of first importance, rather than its projected future revenues or earnings potential.

Please review our About Us section to learn more.