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Welcome to Bastiat Capital
Our approach to investing begins and ends with a sound, in-depth knowledge of accounting and business principles. Unlike much of the “pop” investment culture, we don’t stop with a cursory review of a financial statement or rely on regulators to steer us clear of unsafe investments. We do our own due diligence research, and we do it rigorously.
More than a decade ago, Albert Meyer began building his credentials as an accounting sleuth by exposing a Philadelphia-based charity as a Ponzi scheme. In the ensuing years, his was sometimes a voice in the wilderness, warning about accounting problems at media darlings such as Coca-Cola, Lucent, Tyco and Enron.
In founding Bastiat Capital, Mr. Meyer is building on that same passion for true research, combined with his depth of knowledge of accounting and successful business models. Our investment approach is based on a thorough examination and analysis of documents filed with the Securities and Exchange Commission. These include the financial statements, proxies and other pertinent information that provides insights into the business model, financial performance and integrity of management.
Our methodical approach to investing protects us from suspect investment opportunities and helps us find genuinely profitable enterprises at values that provide a high margin of safety, thereby minimizing investment risk.
In short, we invest in quality companies with a long-term focus, thus allowing our clients and us to sleep well at night.
Investing Tenets
- Allocate capital for the long term by finding companies worth holding “forever”
- Invest only in high-quality companies that shine after our rigorous due diligence process
- Focus on management integrity, good corporate governance, earning quality, free cash flow and competitive advantages
- Favor enterprises whose leaders have skin in the game, through personal ownership of substantial portions of the company, and yet modest annual compensation
- Discount conventional wisdom and mainstream thinking, especially as propagated by Wall Street