A client’s portfolio is like a business. We think it should be managed like one.

The hallmark of a well-run business is the effective generation and management of cash flow. The ability of a business to create and sustain its cash flow over time empowers the business’s owners to meet their short-term needs and long-term objectives.

In an investment portfolio, cash flow means income. For sophisticated investors, an investment strategy that seeks to capture and compound high levels of income — especially on a tax-exempt basis — can become a powerful source of wealth creation and preservation.

In these key components of our investment strategy, we stress the fundamentals of value investing and follow a long-term approach to wealth creation:

  • Private Activity Bonds — We favor debt issues that offer high levels of current income and low correlation to other asset classes.
  • Equities — We seek stocks that pay above market-average yields and have track records for dividend reliability.
  • Integrated Portfolio Management — We strive to maximize cash flow and enhance returns through potential capital appreciation.