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Listed companies

Public Equity
FORUM Family Office Public Equity
  • Rule 1: „Never lose Money“.
    we invest only if
-  the strength and predictability of the business
-  the integrity and ethics of management
-  the valuation
   remove the risk of a permanent loss of capital.
  • Rule 2: Core Competence and „Circle of Competence“.
    During the last 25 years as investors we formed a deep understanding of some sectors - our Core competence.
-  on average 70 - 80% of our invested capital is invested in these sectors.
-  outside these sectors, risk is increasing, therefore the margin of safety needs to be larger.
  • Rule 3: „Managers make us rich“.
    Finally the manager of a business himself makes the real difference.
-  Especially if the target holding period is up to 10 years.

Business with Forum Sector Expertise

Forum value investing sectors


 Investment Philosophy II

  • Rule 4: Understand what we own:
    We seek to know what we own: implying this we have a  highly concentrated portfolio with a maximum of 10-12 positions.
- intensive due diligence
  • Rule 5: patience
    We'd prefer to stay invested forerver, but will sell when:
- valuations are streched and price in perfection.
- we lose confidence in the management or disagree with major strategic decisions.
  • As a result our portfolio churn has averaged 10-15% p.a.