We conduct our own rigorous, independent investment research in house, and economic and investment analysis drives our research.
We typically construct individualized portfolios of individual stocks tailored to each client’s investment time horizon, objectives and withdrawal requirements.
We pursue a value-oriented (“growth at a reasonable price”) investing style, using our own research to discover unrecognized or under-recognized investments whose long-term outlook is not reflected in their current prices.
We put behavioral economics to work in our investment analysis.
We respect and follow clients’ desires to avoid specific companies or industries.
Two senior officers have graduate degrees in economics and college economics teaching experience. One other is a Chartered Financial Analyst (CFA).
We devote extensive time and energy to educating our clientele about what we’re doing, why we’re doing it, and the economic, political and investment environment underlying our decisions.
We write our own monthly four-page letter to clients to keep them informed.
We send our clients quarterly investment performance reports that date back to the inception of our work for that account and provide annualized returns. The investment returns are computed net of management fees and broker/dealer trade commissions.
Our invoices clearly outline the account values and methodology we use to calculate at our quarterly management fees, and we bill in arrears—not prior to completing that quarter’s work.
We provide clients with quarterly realized gains summaries in advance of estimated tax payment dates.
If trading is done for both clients and employees, clients always come first.
We avoid conflicts with other financial professionals used by clients by focusing on investment research and portfolio management. We do not provide legal, accounting, or tax advice.
We understand the role of taxes and manage portfolios to attempt to minimize short-term realized gains and maximize after-tax returns. We do not, however, let the tax “tail” wag the investing “dog.”
We work on a fee-only basis and are not compensated by commissions. We do not participate in any "soft dollar" arrangements.
Clients have access to our portfolio manager to review their objectives and discuss any investment questions.
Our clients are our greatest form of advertisement, and client referrals to their friends, family and colleagues have resulted in the large majority of all new accounts.