BALANCED APPROACH
We use a balanced approach to portfolio investment allocation. This means that we do not invest only in equities, but "balance" the equity exposure with an allocation to income generating securities. This approach has historically provided some protection against volatility in the equity markets. There is no set formula for what percentage of equities and fixed income our portfolios will have, rather that is determined by our expectations for market and economic conditions.
BALANCED APPROACH
We use a balanced approach to portfolio investment allocation. This means that we do not invest only in equities, but "balance" the equity exposure with an allocation to income generating securities. This approach has historically provided some protection against volatility in the equity markets. There is no set formula for what percentage of equities and fixed income our portfolios will have, rather that is determined by our expectations for market and economic conditions.
FOUCS ON TOTAL RETURN
Our objective in managing portfolios is to provide a solid total return for clients. A total return philosophy is characterized as seeking and investing in the best opportunities for capital appreciation, and dividend and interest income. By focusing on both capital appreciation and income, we can pursue a wider universe of securities and invest according to current financial and economic conditions and associated relative values.
VALUE APPROACH
We make our investment selections based on relative value. Some of the characteristics that we look for in determining value in a given investment include the financial condition or credit position of the security, being under owned or misunderstood by "Wall Street," a low P/E on normalized earnings, and expectations of earnings above generalized expectations.