We practice an investment philosophy that can be summed up by a few
simple rules. We do not just pay lip service to these ideas, we try to
incorporate them into every major decision we make.

1) Bet the Jockey, Not the Horse - We've learned that the character
    and integrity of the people involved with a business directly corresponds
    to the profitability of the endeavor. The single most important factor in
    all of our investments is the quality of the company's management.

2) Be Honest - Not just with investors, but yourself. This also means you
    must manage expectations both yours and those who are assisting you.
    Be confident in your own strengths, but know where someone else can
    work more effectively.

3) You Build the Rocket Ship, We'll Provide the Fuel - We invest in people
    who not only have vision, but are willing to roll up thier sleeves and
    execute their ideas. We are very active in assisting management, but we
    are not managers.

4) We Believe in Enlightened Self-Interest - The idea that we only benefit
    if you do as well. We align ourselves with those that will listen to our
    advice, not because we think we are so smart, but because we have your
    companies and shareholders interests at heart.

5) Bring Home Whoever Brought You the Dance - Loyalty and trust are
    the foundations of any lasting relationship. This is why referrals are highly
    valued and why we are extremely careful with our own referrals.