Clockvine Capital

Clockvine's investment approach is defined by focus on: 1) Growth 2) Long term sustainability of growth. 3) Good/clean and easy to understand balance sheets and cash flows. 4) Businesses which can generate reasonable return on capital (>~15% post-tax) on a normalised basis. The firm tries to identify companies which can grow sales at more than 10-12% CAGR in the long term (3-5 years) while maintaining stable margins. While the firm is focussed on growth, it does not ignore the methods being used for generating growth. It avoids companies where growth is accompanied by deteriorating balance sheets/quality of business evidenced by: 1) high leverage, 2) reducing Return on capital and cash flow profile. The firm likes to be 100% invested at all points of time; it takes cash calls rarely. The firm invests with 3-5 years perspective. The firm follows a rigorous analytical process in which it does not just pour over publicly available data but also tries to do through analysis by interacting with mgmt. of competing companies, maybe important suppliers of the company, ex-employees etc.