08/21/2025
Booth-Laird Capital Management has changed in some ways over the years. What hasn’t changed is the way we approach investing. We take our time, do our homework, and invest in businesses we understand. Whether you’ve been with us since the early days or are just getting to know us, this is a reintroduction to what we do and what sets us apart.
“Tell me where I’m going to die so I never go there.”
— Charlie Munger
That is how we invest. We do not chase the next hot stock or macro trend. Rather, we avoid what destroys capital: excess leverage, obsolescence, commoditized pricing, and poor capital allocation.
We manage capital across distinct strategies, but everything we do is rooted in the same principle: 𝐟𝐢𝐧𝐝 𝐡𝐢𝐠𝐡𝐥𝐲 𝐩𝐫𝐞𝐝𝐢𝐜𝐭𝐚𝐛𝐥𝐞 𝐨𝐮𝐭𝐜𝐨𝐦𝐞𝐬 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐦𝐢𝐬𝐬𝐢𝐧𝐠.
In our long-only equity strategy fund, Booth-Laird Investment Partnership, this means:
-Investing in businesses we understand, in industries with a bright future
-Avoiding debt-heavy or trend-dependent business models
-Requiring strong and consistent operating margins
-Partnering with proven, trustworthy management
-Seeking reinvestment at high returns over long periods
-Demanding a discount to our conservative estimate of intrinsic value