Overview

We take a decidedly personal approach to investing at LBA. Instead of trying to steer clients into a fixed set of least-common-denominator model portfolios, our team builds a distinct custom portfolio for each client, based solely on what they want and need.

Our investment philosophy is built on a bottom-up equity analysis approach. We handpick individual stocks and bonds to build client portfolios; we do not utilize mutual funds or ETFs. We feel it’s crucial for investors to know what they own and why, and this is only possible when each security is individually researched and selected with purpose.

Of course, choosing individual stocks has the added benefits of eliminating a wasteful layer of management fees and allowing greater control over capital gains and income streams, but our ultimate aim is to ensure that clients only hold investments that fully reflect their goals and preferences.

In choosing securities, we don’t rely on Wall Street insiders, but conduct our own independent, rigorous research of markets, trends, and companies. Our detailed analysis identifies companies that have positioned themselves for long-term growth by using financial resources wisely, making sound management decisions and innovating to improve products and services.

Perspectives

Reflections & Observations: Watershed Moments

In this newsletter edition we cover the following:
– Staying Invested Part II
– Leading Economic Indicators
– IoT and Data Usage
– Revocable Trusts
– Assisted Living
– Recommended Read: The Good Life

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POSTED IN: Reflections & Observations

Staying Invested Part II

In our spring newsletter, we emphasized the importance of staying invested over the long term by (1) illustrating the outsized impact of the stock market’s best days and (2) explaining how staying invested increases the likelihood of positive returns. While our analysis last spring focused on the broader implications of a long-term strategy, the strategy only works if the security you are holding is a quality company with durable, competitive advantages that drive success in both strong and weak markets.

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POSTED IN: Articles

Leading Economic Indicators

Two consecutive quarters of negative GDP growth has traditionally signaled that an economy is in a recession. However, in the US, the National Bureau of Economic Research (NBER) is responsible for officially designating recessions. The NBER’s analysis relies on three criteria related to economic trends: depth, diffusion, and duration.

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POSTED IN: Articles

IoT and Data Usage

Over the last decade, we have seen the proliferation of “smart” devices—devices that collect our data and track our usage patterns to enhance our overall experience. There are smart mobile phones, TVs, speakers, and cars, as well as smaller everyday items like toothbrushes, vacuums, and coffee brewers. You may be wondering how all of these products became smart, seemingly overnight. What changed?

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POSTED IN: Articles