Erik Dellith is an adjunct professor. He teaches economics and finance to college and MBA students. Before entering academia, Erik worked for more than a decade as a securities analyst, covering US and foreign stocks, domestic and global equity and fixed-income mutual funds, ETFs and precious metals. Erik is the founder of Economic Ideas, LLC, a consulting firm that provides economic and financial insight to small- to medium-size businesses. In his spare time, Erik enjoys writing fiction.
My real name is Frederick Bruckman. ("Paimon" is depicted in the Ars Goetia as a "King of Hell" and expert in the mysteries of the mind--but is also a truly awful pun.) I've completed a B.A. in Economics at the University of Illinois at Chicago, "class of 2013" (enrolled 1989-2012!). I try to buy stocks that are making new highs.
Current role as in-house M&A in information services space, i.e. information, data, analytics, ad tech, digital marketing, etc. Previous roles as private equity analyst and strategy consultant in financial services sector. Actually have to build valuation models, conduct market research and comps analysis for a living.
Disclosure: I am not a financial advisor/adviser. The views expressed here are mine alone and not those of my employer.
An individual who has advised families the last thirty years, FAMCO started as a lawyer representing regional commercial bank and trust companies back when they still existed, then investment partnerships back when they were still profitable, and more recently with large multi-national money center banks back before TARP.
FAMCO's prominent theme is that the current financial intermediaries, (commercial banks, insurance companies and investment banks) have concerned themselves so much with the pursuit of scale, that they offer advice which does not benefit or suit their clients. In the case of all three financial intermediary entities, we have seen the disasterous outcomes in no uncertain terms caused by the gradual disconnect between the mega firm and its family clients.
The commercial banks switch to fee-based models the last 15 years has brought forth a new generation of bankers who are completely unskilled in credit analysis and risk management, as we have seen quite clearly the last three years. The number of investment firms that now depend mostly upon trading profits from their large instituitional clients is unequivovally pitting the needs of those large insitutional clients against the family office and individual client.
Finally, insurance underwriters have become fixated on the origination fees of their products, rather than the viability of the products themselves. That fact that a derivative is only as good as its counterparty's credit worthiness should never have been an issue, but in fact became the dominant theme of the 2008- 2009 meltdown.
Today's family cannot not rely upon the advise of the large financial intermediaries. The conflicts have expanded, the quality of the judgment has diminished and there are simply not enough common goals and mutual interests betweeen the corporate culture and its individual clients for the objectivite counsel to fulfill the fiduciary obligations required from a trusted advisor.
I am a value investor to the greatest extent possible. I also favor dividend stocks. I try to be a buy-and-hold investor, but sometimes I can't avoid the tempation to ring the register or to accumulate the inevitable tax loss. The main thing I have learned is that I have lost more money by selling too soon than for any other reason. I reside in Henderson, NV.
As director of research at Portfolio123, I have long specialized in rules/factor-based equity investing strategies of the sort characterized as “Smart Alpha” in the July 2014 Journal of Portfolio Management. In addition, I formerly managed a high-yield fixed-income fund and conducted research involving quantitative asset allocation strategies such as are at the foundation of what today has come to be known as Robo Advising. I formerly edited the the Forbes Low Priced Stock Report, and served as an assistant research director at Value Line. I have long had a passion for investor education, which has resulted in my having conducted numerous seminars on stock selection and analysis, and the authoring of two books: Screening The Market and The Value Connection.
Erik Dellith is an adjunct professor. He teaches economics and finance to college and MBA students. Before entering academia, Erik worked for more than a decade as a securities analyst, covering US and foreign stocks, domestic and global equity and fixed-income mutual funds, ETFs and precious metals.
Erik is the founder of Economic Ideas, LLC, a consulting firm that provides economic and financial insight to small- to medium-size businesses.
In his spare time, Erik enjoys writing fiction.