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Contrarian Value Equity Composite (CVEC)
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Equity Selection Process |
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- Identify 200 companies to follow closely from 1700 industry leading stocks with long histories and clean balance sheets
- Maintain proprietary database and statistical valuation model on each of the
200 companies
- Each model has on average 35 years of financial statement and price data for
each company
- Identify companies at historically low multiples
- Perform additional fundamental research to understand company’s specific circumstances and consensus view of investors
- Evaluate/Eliminate structural changes and challenges
- Favor improving credits that can reward stockholders
- Establish and reduce positions incrementally
- Sector weightings within 50% of S&P 500 weightings
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Equity Composite Characteristics
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- A somewhat concentrated 25 to 32 stock portfolio of:
- Attractively priced industry leaders
- Currently out of favor
- With low multiples
- Higher than average dividend yields
- A reliable profile of returns which typically will:
- Lag somewhat in bull markets
- Outperform in bear markets
- And outperform over a full market cycle
- Low correlation to the market and our peer group and a return profile that is counter-momentum
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Click Here for additional information on Contrarian Value Equity Selection Process. |
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Contrarian Value Balanced Composite (CVBC) |
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Our balanced portfolios combine our equity approach with a more stable and income producing bond portfolio in proportions determined by client needs and preferences. |
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Characteristics of Fixed Income Selection Process for the Contrarian Value
Balanced Composite |
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- Bond allocation provides income, as well as stability in volatile markets
- Duration managed for total return
- Bond holdings are typically high quality
- Take advantage of corporates after quality spreads widen
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Market Opportunity Composite (MOC) |
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What is Market Opportunity? |
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- Opportunistic asset allocation vehicle
- Offers clients selective participation in the equity market
- Portfolio shifts assets between stocks and cash
- Manages exposure to equities as an asset class
- Limits exposure to equities during periods of historic underperformance
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Characteristics of the Market Opportunity Composite |
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- Uses exchange traded and money market funds
- Allocation may be adjusted from 4 to 7 times per year
- Offers diversification of the entire S&P 500
- Historically significant alpha generation and excess risk adjusted returns
- Employs leverage and short positions
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