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A former financial advisor. I manage several family portfolios and trusts with a tilt toward defensive value-oriented NYSE companies.
Holding periods depend mainly on valuation, it might be quite short if a stock pops, but is usually multi-year.
As income and value oriented investors, we generally avoid Nasdaq and AMEX listed companies as well as technology names which I feel are near impossible to handicap.
Attempting to identify absolute and relative values through stock screens, the neglected, and non-permament distressed situations- including blue chips sitting at, or near 52 week lows is my focus.
* I pay little attention to macroeconomic themes unless they are industry
* Low EBITDA/Enterprise multiples as it relates to historical CAGR, and conservative debt to EBITDA coverage is very important.
* Following both insiders and investment managers building outsized positions within their overall portfolio is important for establishing confirmation bias.
* A substantial and growing dividend policy is paramount, as well as wide economic moats and competent management.
Ideally, I attempt to average the 30 year treasury yield across all equity holdings including preferreds.
My number of holdings is between 30 and 35 names. My worst trades include Stereotaxis, where I lost most of my investment, Boston Scientific for a 50% loss, and selling Starbucks at the 2009 nadir. Some of my best trades were selling SUNW and Cisco at the market top for a 1000%+ return and buying Equinox minerals and Lionore mining as penny stocks, both of which were acquired.
Current asset allocation:
40% NYSE common stocks
5% Nasdaq stocks
10% preferred stocks
20% municipal bonds
10% Canadian equities
+/- 5% in either direction.
Core holdings include:
Bank New York Mellon Coca Cola
General Electric Suncor
Applied Materials M&T Bank
Rogers-Lantic Sugar Johnson & Johnson
Liquor Stores, NA Canexus
EWC etf General Electric
McGraw Hill Sears Holding
H&R Block CSX
Stanley Black & Decker
Bonds, Dividend stock ideas & income, Foreign stocks, Stocks - long
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Just a hunch, but I think $
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Feb 25, 2014
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