Our Investment Edge
Forager concentrates on buying shares in businesses at prices substantially less than their underlying value. Then we wait for the market to correct the mispricing. That is the essence of value investing – buying dollar coins for 50 cents.
This is more difficult than it sounds, which is why many smart investors pay us to do it for them. Businesses change and stock valuation is an inexact science, so we only invest in stocks where the gap between our estimate of value and the current share price is large enough to compensate for the uncertainty.