Page 22 - ASSET MANAGER 10 (EN)

'THE BEST INVESTMENT OPPORTUNITIES CAN BE FOUND IN UNCERTAIN TIMES.'
WILFRIED FORSTER
Forster Investment Dorfstrasse 23
8608 Bubikon
Phone +41 55 243 51 43 info@forsterinvestment.ch
22 • VALUE GROWTH STRATEGIE
ACCORDING TO
WARREN BUFFETT
Wilfried Forster has been dealing with the stock markets for years. His role models are Warren Buffet,
Benjamin Graham and Philip A. Fischer.
Article: Wilfried Forster, Forster Investment
We invest in value-creating companies for the long term. The ultimate goal is to increase wealth in the long run.
We select the most diverse companies and create a well- founded analysis of the balance sheet, income statement and cash flow statement to determine their intrinsic value.
We are interested in companies with a dominant position in the main segment, and thus, freedom in pricing. They are long-term value-creating companies with high returns on their equity, cost leadership, high profit margins and strong brands in established sectors. We are also interested only in companies with a fair, honest and long-term manage- ment. Business management should think and act like its owners. We do not look for turnarounds, IPOs or compa- nies exploited by management.
In our view, it is not worthwhile to worry too much about economic cycles. Often, this overlooks wonderful oppor- tunities that the market offers. We prefer buying excellent corporations whose immediate future is considered nega- tive by the masses (of investors) to doing so with compa- nies traded at euphoric prices.
The price is what you pay and value is what you get. These two values can be massively different on capital markets.
It is also not too important to have the best performance in rising markets, but it is much more important to lose as little as possible in falling markets. This has once again been demonstrated by the performance of our value growth strategy this year, which is better than the aver- age in difficult markets. The performance of the value growth strategy in 2018 was 13.2 % in CHF.
Photo: Shuttersthock