Troy High

Yellowstone Partners' stock selection process begins with a universe of stocks which meet thresholds of capitalization, information availability and liquidity. The firm subjects each potential investment to a rigorous valuation filter. Those which fail to meet the Yellowstone's proprietary requirements are eliminated. The firm narrows their list of investment candidates to include only those with calculable evidence of stability and the potential for growth. They are particularly interested in companies which are experiencing drastic sales growth, strong asset turnover and high cash flow. Their evaluation also includes a detailed appraisal of each company's management. Yellowstone does not believe it is possible to perfectly time the market, but they do look for technical indicators to identify optimal entry points. They monitor their holdings diligently and capture profits periodically. The firm's sell strategy is dictated by the same factors which first bring companies to their attention.