Owner's manual

Investing in the stock market requires a strong mind and patience both from us and from you.

We expect that investors in MIP:

... have a long-term investment horizon (minimum 5 years) and – like we do - view the periodic large fluctuations in the stock market as an opportunity rather than a risk.

... never invest so much in MIP that significant declines in market prices will affect their sleep.

... understand the short-term unpredictability of the stock market and therefore evaluate us on our long-term results, just as we evaluate the companies we own.

We will:

... take pride in managing the capital entrusted to us by investors, and we manage it just as we manage our own, as we are fully invested in MIP ourselves.

... view every investment as an ownership, and we will only invest in companies we are comfortable being long-term owners of – even if the stock market closed indefinitely.

... to the best of our ability, practice a disciplined approach to investing with an unwavering focus on the quality of our businesses and the associated expected returns, aiming to generate long-term portfolio returns that create value for investors both absolutely and relatively.