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Ancora seeks to
invest in companies participating in industries with attractive
prospects and business fundamentals. Ancora’s portfolio managers
and analysts seek to understand the competitive positioning of
the company under consideration with a view toward long-term
franchise value and management reputation.
We seek to invest
in companies participating in large, growing markets. Industries
that engender the building of sustainable franchise value,
barriers to entry, and high margins are favored. These may
result from consumer brand value, a differentiated product,
oligopolistic market dynamics or a superior cost structure,
among other factors. Many of these companies will have sizable
recurring revenues attached to long-term customer
relationships.
Ancora’s
investment staff formulates viewpoints in part by conducting
interviews with industry insiders, including customers and
competitors. We seek feedback on key qualitative data points
from these interviews, including the strength and sustainability
of the company's customer relationships, the company and
management team's reputation in the business community and the
quality of the company's products or services. |
