GARP Approach
Growth at a Reasonable Price — our core investment philosophy combining growth and value disciplines.
SIF follows a Growth at a Reasonable Price (GARP) philosophy with a bias toward value-investing. We prioritize high-quality businesses with durable competitive advantages that can compound returns over time.
Unlike pure growth investors, we demand valuation discipline. Unlike pure value investors, we seek companies with clear catalysts for earnings growth. This balanced approach aims to capture upside from quality compounders while maintaining a margin of safety.
What we look for.
Attractive Fundamentals
Strong balance sheet, defensible margins, and durable free cash flow generation.
Reasonable Valuation
Evidence of mispricing relative to intrinsic value, peers, or historical multiples. Variant view vs. consensus expectations.
Sustainable Growth
Clear catalysts for earnings growth or margin expansion supported by industry tailwinds or company-specific drivers.
Quality Management
Proven capital allocation discipline and shareholder alignment (act like owners). Trustworthy with a proven track record.
Research Framework
Analysts produce comprehensive stock pitches covering business overview, key drivers, valuation (DCF/FCF models), risk analysis, and management assessment. Each pitch is presented at biweekly meetings where the full team engages in rigorous debate.
Ideas receiving 65%+ votes are added to the portfolio. Those receiving 50%+ are placed on a watchlist for further analysis and potential future inclusion.