RCB employs a value-oriented investment strategy that seeks to provide competitive returns in strong markets and strongly outperform in more difficult market environments. The firm has always relied on internally generated research which is focused on the valuation of individual securities rather than predictions of economic or market trends. Our process attempts to identify exceptional businesses selling at reasonable valuations and reasonable businesses selling at very exceptional valuations. A careful analysis of return on capital or "economic value" generation is the main driver in determining what makes a business "valuable," while a discounted cash flow methodology is our primary valuation tool.