Atman Capital

Company analysis: At Ātman, the firm spends most of its time analyzing industry structure and a company's business model, its competitive advantages ('moats') and independently determining intrinsic value of a business.

Quality businesses: The firm invests in 'high quality' and 'emerging quality' businesses that display the following: they can sustainably generate high Return on Invested Capital (ROIC) over many years; they are run by competent and honest management with high corporate governance standards; and they have clean financial statements with no accounting shenanigans.

Minimum return hurdle: The firm typically buys or holds a stock only when it can forecast an annualized return of 15%.

Margin of safety: A depressed stock market is likely to present the firm with more buying opportunities.