The Discovery investment process has been developed over 20 years. Our approach to cash flow investing creates a bias towards high returning businesses, quality business franchises, company turnaround situations and cyclical companies at the bottom of the cycle. We have a natural bias away from early stage business models e.g. biotechnology and mineral exploration and ‘growth at any price’. A company’s balance sheet is carefully considered including funding future growth. Click on the diagram below to view. Our Investment Process