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| FECG
maintains an investment philosophy emphasizing a
combination top-down (the general economic
environment) and bottom-up (individual companies
within their industries) approach to determine the
relative values, which exist among asset
classes. Components of our investment approach
include fundamental and technical analysis, asset
allocation and relative valuation. |
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| Generally,
clients seek a balanced investment approach, with
invested funds allocated between income-producing assets
and growth-oriented assets. We assist the
client in determining the realistic investment
objectives, which will satisfy their long-term goals
given their risk parameters. We see the
role of our firm as integrating the current and
projected economic and investment environments with the
clients' objectives regarding this risk and return. |
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When
selecting securities for a client's portfolio, primary
emphasis will be given to fundamental analysis.
However, we also utilize technical analysis to assist in
the investment timing process. Information may be
taken from available databases, business periodicals,
published research material, company published material,
or other sources. The information will generally
be utilized for two specific purposes:
- To
construct a reasonable description of the current
and projected economic environment
- To
determine which securities are purchased or sold.
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Screening
variables for fixed-income assets include:
- Nominal
Yields
- Real
Rates of Return
- Credit
Quality
- Maturity
Structure, etc.
Such
variables for stocks would include the company's
industry outlook, current and relative P/E ratios, price
to sales ratio, market capitalization, dividend yield
and the anticipated earnings and dividend growth. |
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