Vitruvian Value
I believe that the best investing happens at the intersection of art and science - between the rigor of financial analysis and the creativity required to see what others miss.
The label “value investor” carries a lot of baggage. A decade of underperformance has left many investors convinced that value investing is broken, or worse, obsolete. But value means different things to different people, and no matter how I tried to slice it, there was no getting around it - I’m a value investor at heart. So rather than run from the label, I decided to redefine it.
Vitruvian Value is an investment philosophy inspired by the Renaissance ideals embodied in Leonardo da Vinci’s Vitruvian Man and the timeless principles of Vitruvius - Firmitas (Strength), Utilitas (Utility), and Venustas (Beauty).
Firmitas (Strength): Stability amidst chaos. A steadfast foundation built upon a margin of safety - the conviction to hold when markets lose their nerve.
Utilitas (Utility): An adaptable framework integrating multiple perspectives, recognizing that truth often lies between extremes and that the best ideas come from the widest aperture.
Venustas (Beauty): Clarity and creativity - the ability to cut through complexity to see opportunity hidden in plain sight.
What to Expect
This is where I write about investing - the ideas, the frameworks, and the lessons from running a concentrated portfolio through decades of market cycles. Expect deep dives on individual businesses, reflections on the investment process, and occasional commentary on markets and human behavior.
About Me
I’m Chris Pavese, President and CIO of Broyhill Asset Management, a Charlotte-based investment firm. Originally established as a family office nearly half a century ago, the firm spun out in 2022 to become an independent investment manager, serving a diverse client base - including institutions, advisors, and high-net-worth families - with a rigorous focus on capital preservation through disciplined, bottom-up security selection.
There are references to Leonardo da Vinci throughout our office - a reminder that the best work happens when analytical rigor meets creative insight.
Vitruvian Value is an extension of that belief.
