We are a long-term investment firm focused on owning exceptional businesses at sensible prices. We seek companies with durable competitive advantages, capable and rational management teams, and attractive reinvestment opportunities. We are not driven by forecasts, market narratives, or short-term price movements. We prefer to own a smaller number of businesses we understand deeply than a large number we understand superficially. We measure success not by how frequently we act, but by the quality of said decisions and their long-term results.
We employ a patient, resolute approach to investing. This allows us to remain steady during challenging times, allowing businesses to adapt, evolve, and create value over time. We view cash as an asset when attractive opportunities are scarce.
We apply a bottom-up approach to investing, eschewing macro forecasts and technical analysis in favor of fundamental analysis.
We define risk as the permanent loss of capital, not the short-term fluctuations in quoted market prices. Alignment is equally important, and we manage client capital with the same seriousness we apply to our own.
Avery brings a disciplined, long-term perspective to investment decision-making, combining fundamental research with a practical understanding of the financial lives and objectives behind each portfolio.
Avery began his career at Mercer Advisors, a Barron's top RIA. There, he assisted ultra-high net worth families develop solutions for complex financial planning issues including retirement planning, tax planning, insurance planning and investment management.
He then joined Leisure Capital Management, where responsibilities included investment research, portfolio construction and implementation, and financial planning. As a member of the firm's investment committee, he helped guide investment decisions on behalf of the firm's clients.
His approach reflects a belief that sound investing requires both intellectual discipline and sound judgment. He emphasizes understanding what is owned, evaluating investments through a long-term lens, and maintaining patience through turbulent times to allow businesses to compound over time.
Avery also believes that leadership carries a responsibility beyond investment performance. He has remained actively involved in his community, including serving as a Mentor in the Earl Woods Scholar Program through the TGR Foundation supporting financial literacy and youth development initiatives.
For Avery, the role of investment professional is ultimately one of stewardship; to think carefully, act deliberately, communicate honestly, and treat entrusted capital with the same seriousness he applies to his own.
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