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

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