Bast Holdings: Founding Principles and Core Values


The philosophies, policies, and principles that guided Marty Basington, the founder of Bast Holdings, continue to shape our approach to business today. These foundational values define who we are and how we operate.

Flexibility

Flexibility is essential. Without it, there can be no compromise, negotiation, or successful transactions. Key thoughts on maintaining flexibility

  • Every generalization is false—including this one.
  • There are exceptions to every rule.
  • Life is full of contradictions; The key to survival is balance.
  • Independent thinking is essential—conventional wisdom is often wrong.
  • Don’t force your position; instead, adapt and capitalize on what’s available.

Quality People

An organization is only as strong as the talent and dedication of its people:

  • Quality individuals possess both ethics and ability.
  • Evaluating a candidate’s track record, references, and experience is critical.
  • Collaboration and shared expertise drive substantial growth.
  • It’s better to share success with strong partners than to go it alone.
  • Trust in management is the cornerstone of evaluating any business.
  • In evaluating a company or business, our due diligence is primarily establishing whether or not to trust the management.
  • Great companies weren’t always great—people made them so.

Caution and Conservatism

We maximize success by minimizing risk. Core principles of caution:

  • “More important than return on capital is the return of capital.” – J.P. Morgan
  • Lenders are partners in our transactions and a vital part of our business.
  • Buffet: “My favorite holding period is forever.”
  • The only certainty when writing a check is the amount that can be lost.
  • Short-term success is visible, but great results emerge over the long term.

Running Scared

Cautious pessimism is one of our best defenses:

  • Murphy was an optimist. Always plan for worst-case scenarios.
  • The phrase, “don’t worry” can be the kiss of death.
  • A deal isn’t closed until the funds clear the bank.
  • If we don’t outperform the competition, they will surpass us.
  • Insecurity fuels preparedness—it’s a valuable trait.
  • Before considering the upside, ask what could go wrong.
  • Running parallel efforts, rather than successive ones, provides the best security.

Service Mentality

Our industry is often driven by ego. We take a different approach:

  • We are here to serve—sellers, partners, and our companies. They do not serve us.
  • Treat everyone with respect; everyone becomes a reference sooner or later.
  • Prioritize the other party’s comfort in every interaction.
  • Ego doesn’t make money—it costs money.
  • Listening is one of the world’s greatest tools. Never interrupt.

Professionalism

We are defined by the professionalism we exhibit in every interaction:

  • Do things well or not at all.
  • Reliability is a competitive advantage—simply doing what we say we will sets us apart.
  • Follow the law of successive approximation—set high standards and continuously exceed them.
  • Stay focused on the present task while keeping the bigger picture in mind.
  • Approach business with the “helicopter view”—an overview from above with attention to detail on the ground.

Analysis

Albert Einstein once had a sign in his office: “Not everything that counts can be counted, and not everything that can be counted counts.”

  • Always incorporate both quantitative and qualitative factors in decision-making.
  • Non-analytical elements—such as the character of people we deal with and the broader global landscape—are just as important as data-driven insights.

Positive Attitude

While we exercise caution, we approach every opportunity with optimism:

  • A good deal benefits all parties involved.
  • Greed and envy are barriers to progress.
  • We avoid politics and focus on business.
  • Instead of asking why something won’t work, find out how to make it work.
  • We seek prosperity for our partners and colleagues.
  • Empathy is key—we put ourselves in others’ shoes.
  • We are not a litigious organization.

Time

Time is one of our most valuable assets. Key thoughts on time management:

  • “Time is the coin of human existence.” – Carl Sandburg
  • Writing down priorities gets you halfway to achieving them.
  • “He who controls himself controls the world.” – Anonymous
  • Whether for the long term or individual days, planning is vital.
  • Maintaining physical and mental well-being provides a competitive edge.