Overview

Serving on the investment committee or leadership team of a foundation, endowment or charity is the ultimate act of stewardship. In these roles, board members must protect the financial interests of the organization, abide by all relevant regulation and set a course that future stewards can follow.

We help these non-profit entities and their leaders by acting as a fiduciary to the fiduciaries. In addition to providing investment advice and portfolio management, LBA shares our experience and independent perspective to help committee members implement practices that promote efficient operation and inform prudent decision making.

An important element of this work is establishing an investment policy statement (IPS). The IPS acts as a roadmap for the committee, describing the organization’s investment strategy, goals and constraints. Once an IPS is in place, it guides the committee in asset allocation, security selection and other critical decisions. Further, it provides continuity and clarity as board member terms expire and new members join the board.

Perspectives

LBA Monthly View | August 2020

– Notable: S&P 500 members’ share repurchases, Lumber prices, Champagne sales
– Company Highlights: Madison Square Garden Sports, Apple, Nike, Visa
– On Our Minds: What Bugs Us About Gold Bugs

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POSTED IN: LBA Monthly View

LBA Monthly View | July 2020

– Notable: Average rate for a 30-year mortgage; Almond prices
– Company Highlights: Johnson & Johnson, Madison Square Garden Sports, Novartis, Alphabet (Google), Home Depot, and Amazon
– On Our Minds: Sears Holdings

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POSTED IN: LBA Monthly View

Reflections & Observations: Impacts of a Global Pandemic

In this newsletter edition we cover the following:
– When the New Normal Becomes Just Normal
– Why a Stock’s Price Does Not Reflect its Value
– Drug Development: A Long, Costly Process
– Real Estate in the time of Coronavirus
– The SECURE Act
– Over the Hill, On the Horizon

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POSTED IN: Reflections & Observations

Reflections & Observations: Ignoring the Media Noise and Focusing on the Fundamentals

In this newsletter edition we cover the following:
– Three Demographic Trends in the US
– Developing Technologies from LBA Companies
– The Importance of Predictability in Cash Flows
– Boeing: The Consequences of Cost-Cutting
– The Death of US Retail?
– A Funny Thing Happened on the Way to the Fixed Income Shoppe

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POSTED IN: Reflections & Observations