Investment Philosophy


iStock_000006738299-inv-philOpportunistic Value Equity
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It is our belief that sound investment results over time emanate from investing in high-quality businesses at a time when their stocks are selling at a meaningful discount to their intrinsic values. A fundamental, research-based portfolio of 35-40 stocks provides the optimal mix of performance potential and diversification.

Dividend Income Equity: The twin goals of above-average current income and lower portfolio risk can best be achieved by investing in mature, successful companies with high-quality balance sheets. The companies must have a history of stable and growing dividend yields that are currently greater than the S&P 500 yield. A portfolio of 25-30 stocks should provide the optimal mix of current income and below-market volatility.

Dividend Growth Equity: The pursuit of both capital appreciation and current income can best be achieved by augmenting the Dividend Income philosophy above with the ability to add growth-oriented companies when the stock market appreciation potential is above average. A portfolio of 25-45 stocks should provide the optimal mix of capital appreciation and current income.

Fixed Income: The role of fixed income in a client’s portfolio is to generate income while preserving capital. We believe this is best achieved by building a diversified portfolio of high quality bonds (A rated or better) with short-to-intermediate portfolio duration. No bond has a maturity over 15 years at the time of purchase. Each portfolio is tailored to client-specific requirements for income, risk aversion and tax-sensitivity.

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