How We Invest
Strategy
Portfolio Policy
Asset Allocation
How Many Stocks
Top Down
H.S. Dent
Bottom Up
Tactics
Stock Management
Bond Management
ETF Management
LEAPS Management
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How We Invest

Portfolios do not manage themselves. Nor can they weather the ages unaltered. With each passing day the portfolios investors crafted yesterday become less optimal. Change is the only constant. Investment strategy is the adaptation to change. Tactics are the specific means used to implement strategy.

Successful investing requires a process in which the manager knows their markets and their clients. WALT ST’ s process is built to turn this knowledge into action.

WALT ST employs an investment process that uses both top-down and bottom-up components. WALT ST seeks to maximize returns by investing in only a select number of sectors and securities that will benefit most from the current economic landscape. The overall investment objective is to outperform the market over a 3- to 5-year time horizon.

In choosing investments for portfolios, WALT ST uses the following process:down arrow gif down arrow gif down arrow gif down arrow gif

Top-Down Investment Approach

  • Interest rates
  • Inflation versus deflation
  • Global economic outlook
  • Long-term trends
  • Productivity
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Sector & Sub-Sector Considerations

  • Secular Growth Trends
  • Favorable demographics
  • Competitive nature of business
  • Degree of industry innovation
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Portfolio Construction

  • Fully invested (typically less than 10% cash)
  • Low turnover
  • Sector concentration
  • Fewer than 30 best ideas
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Stock Selection Consideration Bottom-Up Approach

  • Market opportunity
  • Earnings growth potential
  • Sustainable competitive advantage
  • Visionary management team
  • Valuation
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This web site is intended for U.S. persons. This web site should is not a solicitation or offer of services in any jurisdiction that WALT ST Investment Management, Ltd. is not qualified to do business. The contents of this web site is owned by WALT ST Investment Management, Ltd ©2000 Walt Street Investment Management ltd. All rights reserved. The information provided is for informational purposes only and it is recommended that all investors consult their appropriate advisors before investing. All research and commentaries are accurate as of the date of publish and WALT ST Investment Management, Ltd. is not responsible for updating past information that may be included on this site. All opinions are subject to change without notice. This web site is not a secure network and online access may be interrupted. Clients and Investment Advisory Representatives (IARs) are responsible for all hardware, software used to access this site and are also responsible for the confidentiality of passwords. All information posted to this web site is believed to be accurate and reliable however WALT ST Investment Management does not guarantee accuracy or completeness of information. All questions and or comments relating to this web site should be directed to Walt J. Sokira, E-mail: walt@waltst.com, fax 330-677-1951, phone 330-677-1950. Site related problems or questions e-mail: webmaster@cyberjam.com, Web Site Developed by Cyberjam Internet Services

Sell Criteria

  • Development of better idea
  • Extreme valuation (over-valued)
  • Change in company’s fundamental