Quality Requires Patience
“It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”
— Warren Buffett
Quality investing can be frustrating. Good companies do not outperform every year—and sometimes the opposite happens.
Consider 1999, at the height of the dot-com boom. Standard & Poor’s research shows that its lower-quality stocks returned 32.5%, compared with just 10.6% for its highest-quality group. The very lowest-quality category gained an extraordinary 102%.
Then came 2000–2002.
Over those three difficult years, the high-quality group declined far less than the lower-quality group in each year. Quality didn’t suddenly become quality in 2000. The underlying businesses hadn’t changed. What changed was what investors were willing to pay attention to.
We are experiencing another period when quality investing is being tested.
Our view hasn’t changed: own good businesses, bought at sensible prices, and give them time to work.
We thank you for allowing us to be your trusted financial advisor. Please contact your Private Wealth Manager with any questions. A discussion with Kevin or myself can be also arranged to cover our investment strategies and review your asset allocation.
Best,
Tom Curran
Founder & Co-CEO
At Curran we value service over sales and believe quality service yields happy clients. Below is our 4-step process (the first three steps at no cost to you).
A short introductory call for us to get to know one other. During this call we will discuss your financial goals, concerns and hopes for the future.
In this meeting we will go over your current financial situation, take a deeper look at your goals, discuss your risk tolerances, and collect the data necessary to build a formal proposal.
Based on our data gathering session, our Private Wealth Managers will present you with a custom proposal tailored to your needs. We encourage individuals to take the time to evaluate this proposal.
If you are comfortable with the proposal and choose to invest with Curran, our team will be there every step of the way assisting in opening the recommended accounts and facilitating all necessary parts of your onboarding process.
