A former financial advisor. I manage six family portfolios, a family foundation and a dynasty trust with a tilt toward defensive value-oriented NYSE companies. Holding periods depend mainly on valuation, typically multi-year, some multi-decade. 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-permanent distressed situations- including blue chips sitting at, or near 52 week lows is my focus. I especially like to handicap blue chips in the cross hairs of a media storm, e.g Halliburton, Carnival, BP SeaWorld etc. * I pay little attention to macroeconomic themes unless they are industry specific. * 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 important, but there are exceptions. * Wide economic moats through strong brands and market leadership. * Honest and competent management. * I tend to like companies based in Minnesota, and dislike companies in the deep south, especially Florida, all things being equal. 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. Some of my best trades were selling Sun Microsystems and Cisco at the market top for a 1000%+ return. Rogers Sugar, where my dividends have lowered my cost basis to zero. Buying Equinox minerals and Lionore mining as penny stocks, both of which were acquired. Recent investment winners have been AAL, originally bought at $17 Campbell Soup purchased at $33. and Davide Campari ADR at $6 Current asset allocation: 40% NYSE common stocks 10% Nasdaq stocks 5% preferred stocks 25% municipal bonds and corporates 5% Canadian equities 10% cash +/- 5% in either direction. Core holdings include: Bank New York Mellon, Coca Cola, Carnival, Neogen, Applied Materials, Rogers-Lantic Sugar, Liquor Stores, NA, Cabot Chemical, Du Pont, McGraw Hill, H&R Block, Davide Campari BP Plc, Stanley Black & Decker, Patterson , ATT Inc. American Airlines, Grupo Mexico, Patterson Companies, Wolverine Worldwide, Houghton Mifflin, Liberty Braves, GDX etf, West Marine, Luxottica, CNHI, Sanofi, CHS inc.