The price is an integral part of every complete judgment relating to securities. In the field of common stocks, the danger of paying the wrong price is almost as great as that of buying the wrong issue. The new-era theory of investment left price out of the reckoning, and this omission was productive of most disastrous consequences.
- Benjamin Graham, Security Analysis, 1934 Edition
Semper Augustus is an SEC registered investment advisor, founded in 1998 with principal offices in Denver and St. Louis. We are a fundamental, value-driven investor managing concentrated equity portfolios of well-run, well-capitalized businesses with share prices trading below our conservative appraisals of intrinsic value. We go where the value is.
Our Investment Approach Results in a Portfolio of Businesses with:
OVER TIME, THIS HAS DELIVERED OUR CLIENTS SUPERIOR PERFORMANCE
Translated from Latin for “always majestic”. The Semper Augustus was the most rare and valuable of the tulips during the Tulipomania in 1630’s Holland. At its 1637 peak, a single Semper Augustus bulb sold for the dollar equivalent of fifty times a laborer’s annual wage, or enough to purchase a nice townhome in Amsterdam. To read about the Semper Augustus and the Tulipomania, click "Read More".
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