Investment philosophy

Value investing

FORUM follows the principles of value investing, which was pioneered by Benjamin Graham in the 1930s: At its core is an assessment of the "intrinsic value" of a company that is as objective as possible - independent of the stock market price. The concept of the margin of safety demands that an investment in a company should only be made if the share price is below this intrinsic value. This gives the investor a buffer against errors in valuation or changes in the share price - to avoid losses.

Benjamin Graham's original concept has been further developed by other value investors, probably best known is Warren Buffett. FORUM follows its own approach, which is based on the investment philosophy of Berkshire Hathaway.