“The intelligent investor is a realist who sells to optimists and buys from pessimists.”
-Benjamin Graham
AS Investment Partners is a wide mandate and fundamental value investment partnership. We embrace the value investment principles of Benjamin Graham, Warren Buffett, and Charles Munger. We actively seek undervalued and special situations in the public markets that can be purchased at discounts to their intrinsic value.
Our partnership operates with high levels of alignment between the Investment Manager and the clients. Our fee structure* is inspired by Mr. Buffett's Partnership. Investors pay no management fees, and we only get compensated for returns that exceed 6% annually.
* For Qualified Clients. AS Investment Partners LLC is not affiliated with Benjamin Graham, Warren Buffett, and Charles Munger.
We invest with the idea of preservation of capital by having a margin of safety in every investment. In selecting investments, we have a business-like approach that focuses on understanding the company's economics, competitive position, and intrinsic value.
We believe in patiently waiting for the "fat pitch" and investing aggressively when an attractive opportunity presents itself. We have a long-term time horizon and believe that market price and intrinsic value eventually meet.
Management
Abhay Srivastava, CFA
Abhay Srivastava is the Founder and Managing Member of AS Investment Partners, a value investing firm. Born in India, Abhay Srivastava attended Indian Institute of Technology Madras and University of California Berkeley where he received his B.Tech., and MS respectively.
Research
Below is a selection of writings by Abhay Srivastava that illustrate AS Investment Partners’ approach and thinking in greater depth. For ongoing insights, full archives, and to join our distribution list, please visit our blog at www.skymemos.com and subscribe for updates.
Stock Writeups
- Webco Industries (WEBC)
- Crest Nicholson (CRST)
- Helix Energy Solutions (HLX)
- Manhattan Bridge Capital (LOAN)
- MasterCraft Boat Holdings (MCFT)
- Beazer Homes (BZH)
Investment Process & Thoughts
- Surface Numbers Can Deceive
- The Buyback Bottleneck
- Your Edge
- Evaluating Management through Press Releases
- A Key Principle
- Bargain Hunting: Hidden Risks in Balance Sheets
- Importance Of Shareholder Base
- Practical Uses of Inventory Accounting
- Intrinsic Value: What Doesn't Count? Some Interesting Phenomena
- Amortization Accounting
- The Power of Favorable Odds
- The Four-Legged Stool
Case Studies
- Lessons from Auto Parts Suppliers Bankruptcies
- Insurance Float's Underappreciated Value
- Representation crisis
- The Quality Of
- Verisign - lollapalooza-business
- Delaying Bad News
Book Abstracts
Security Analysis by Benjamin Graham and David Dodd