“In the short run, the market is a voting machine, but in the long run, it is a weighing machine.”
— Benjamin Graham
Last week we looked at an uncomfortable truth: lower-quality companies can outperform higher-quality companies—sometimes dramatically.
That raises a more important question.
When you invest, are you buying recent performance, or are you buying a business?
Stock prices can move quickly. Business quality changes much more slowly. A company with growing earnings, a strong balance sheet, high returns on capital and opportunities to reinvest doesn’t become a lesser business simply because its stock trails the market for a year.
The temptation, of course, is to abandon what isn’t working and move toward what is.
History suggests that can be exactly the wrong time to change course.
At Curran, we believe investment results ultimately follow the businesses we own—not the popularity of their stocks at any particular moment.
Performance tells us what has happened. Quality helps us think about what can endure.
As always, we thank you for allowing us to be your trusted financial advisor.
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.
