Mr. Market is there to serve you, not to guide you. It is his pocketbook, not his wisdom that you will find useful. If he shows up someday in a particularly foolish mood, you are free to ignore him or to take advantage of him, but it will be disastrous if you fall under his influence.
Since Tweedy, Browne was founded in 1920 as Tweedy & Co., a dealer in closely held and inactively traded securities, we have pursued a value oriented approach to securities, first as a market maker, and later, as an investor and manager. For more than 100 years, through depressions, recessions, and stock market cycles, through a quadrupling of interest rates and the advent of double digit inflation, and through the emergence and disappearance of numerous investment fads, we have adhered to the same value oriented principles of analysis and investment. Our results over many decades have confirmed our confidence in this approach. (Past performance is no guarantee of future results.)
Modern day application of the late Benjamin Graham’s “intrinsic value” methodology to the analysis of common stocks around the world.
invested in personal and TB-managed value-oriented portfolios by our Managing Directors, one of our retired principals, employees and their immediate family members (as of 09/30/24)
Tweedy, Browne has been managing private account portfolios for high net worth individuals and institutions since first registering as an investment adviser in 1975. We invest in companies from around the world, utilizing an investment approach based upon the broad concepts of “intrinsic value” and “margin of safety” as conceived and practiced by the legendary value investor, writer and teacher, Benjamin Graham. Our primary objective is long-term capital appreciation. In the words of Graham, “An investment operation is one which, upon thorough analysis promises safety of principal and an adequate return. Operations not meeting these requirements are speculative.” (All investing, including value investing, involves the risk of loss, including loss of principal. We may be wrong in our assessment of a security’s intrinsic value.) Managed Accounts
of experience managing separately managed accounts
Our research focuses on fundamental principles of balance sheet and income statement analysis, and a knowledge and understanding of actual corporate mergers, acquisitions, and liquidations.
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