The technology sector has been on a vertical ascent in recent years, attracting frothy excitement about its “limitless” growth potential. The seemingly unstoppable flow of market interest and financial resources has been hard to ignore, and for some investors, impossible to resist. But Brandes is not a “bandwagon investor.” We are not averse to standing aside, remaining patient and focused, scrutinizing data to pursue what others may overlook or prematurely dismiss. We strive not to get caught up in the momentum of the moment. Instead, we stick to our own way of seeking genuinely attractive opportunities hidden amidst the many companies that comprise the tech sector. That process draws on our experience and consults with external sources to help us get a true picture of a prospective investment. And throughout this investigation, we are guided by cardinal value investing principles—seeking value and a margin of safety (the discount of market price to our estimate of intrinsic value).