We at GPS believe in line-by-line, bottom-up fundamental analysis and accounting review, but center our faith and beliefs on the foundations of cash flow yield investing. We seek to minimize risk via our edge: thorough analysis of the company focus, product line, financial condition, and management team. Our typical analysis process includes:

• Analysis of underlying business and competitive advantage
• Macroeconomic and industry analysis
• Valuation models based on discounted cash flow and relative valuation to determine intrinsic firm value
• Evaluation of management ability
• Scalability/Addressable Market analysis
• Federal policy/Regulatory analysis

This discipline allows us to find investments with favorable risk-reward profiles so we may profit from our research.