There are many ways to manage the process of investing. We have chosen to invest in the stocks of small through large-sized companies that offer attractive valuations and above-average dividend yields. Although many of these holdings are classified as "value" stocks, our investment philosophy differs from most value-oriented money managers in three distinct ways.  

Specifically, we look for companies that provide:

• An upward progression of earnings that are not entirely driven by the economic cycle
• Abundant cash flow to increase its quarterly dividends in the future
• An established management team, stable product demand, and financial strength

As the majority of our accounts are taxable, our emphasis includes:  

• Investment horizons that are longer than one year (to minimize short-term capital gains)
• Managing a 20% or lower turnover rate
• Tax-free bonds where applicable
• Building custom portfolios that allow tax management during the year

We Practice "Top Down" Investing:  

• Our analysis starts with the overall direction of the economy
• We then decide which areas of the economy offer the highest earnings growth potential
• The final step is to decide which industries are the most attractive and which specific stock provides the best value