Rick Konrad has been an equity portfolio manager for over 35 years. At present, he provides strategic management consulting to both institutional buy and sell side firms. His greatest joy outside of his family is education, in particular, training young people to become better research analysts, portfolio managers, and financial planners.
I am a value based income investor, primarily in common, with 15% in fixed income. I like MLP's, REIT's, CEF's, and BDC's. I select positions based on business fundamentals, ultimately concerned with their ability to continue to pay and to increase their dividends, and become fully valued. Started with Validea a few months ago, it is for real, already showing significant gains.
My cumulative total return for the past 3 years is 74%, 5 years 77 and 115% for 10 years. Only two of my average 25 positions decreased their dividend 2007-2010. Too good to be true, but I have been lucky. It has been a wild ride the past 5 years; new bubble building now, another opportunity on the way.
I am a retired commercial banker, evaluating businesses in the traditional way, always having a "margin of safety". I only withdraw the dividend and interest income produced, and am not concerned with the fluctuating value of my portfolio. I am working towards a true "value" portfolio, a'la Graham/Buffet/Klarman/Greenblatt, weaning myself away from dividend/interest consideration.
George Spritzer, CFA is a registered investment advisor at Southland Investments and specializes in managing closed-end funds for individuals.
George uses the following investment strategies:1) Opportunistic Closed-end fund investing: Buy CEFs at larger than normal discounts to NAV and sell them when the discounts narrow. 2) Exploit special situations: tender offers, fund terminations, fund activism, rights offerings etc.