While Boyar Asset Management takes contrarian stands and purchases equities when they are out of favor, we consider ourselves opportunistic investors rather than traditional value investors. We look for catalysts that could make a company’s stock price ascend in value within a reasonable period.
Because we estimate the intrinsic value of every company prior to it entering a portfolio, our sell decision is made the same day as our stock purchase. When a stock rises above our estimate of intrinsic value, we reexamine all assumptions. If nothing material has changed, we sell the security.
We constantly examine our portfolios, along with new market opportunities. Our horizon is long-term, and we are willing to hold a high cash position when we cannot find intriguing investments. So, we often use market turbulence to initiate or increase positions.