Street Stories: The Great Traders

Tweedy, Browne & Co. is a Value Investment Player

Market Wizards Index: +15%
Compound annual over 20 years

Fund or affiliation
TBK Partners

Methodology
Stand ready to buy small amounts of large range of different issues at 2/3 of net current assets, then sell again at 100%.

Research/ Valuation Techniques Employed
Absolute true follower of Benjamin Grahams rules.
Net current assets are reduced further by every conceivable charge, including future lease obligations.

Trading Techniques Employed
Stand ready to buy small amounts of large range of different issues at 2/3 of net current assets, then sell again at 100%.

Philosophy and beliefs
Mediocre management usually sells for a bigger discount than it should.

History and other facts
In 1980, they managed about $850M and tend to have an inventory of over a thousand items.

Performance Record
15% over 20 years: "TBK has enjoyed a 20-year compound growth rate of well over 15%, deducting all expenses, but before tax."

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