The Harper Value Equity composite is a composite of all discretionary, fee paying accounts which Harper manages in a large cap oriented, equity-only style.
Value Equity follows a bottom-up, fundamental, value-oriented approach to investing, emphasizing the margin of safety principle and insisting on low absolute valuations. Most investments will fit the classic value criteria of low price to book and low price to estimated long-term earnings/free cash flow. We will occasionally invest in the rare “franchise” equity, which is typically characterized by very high returns on invested capital.
We focus on mid to large cap equities within our Value Equity approach, but have a multi-cap style as it allows us to integrate our most attractive ideas into the product.
