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SPECIALIZED EQUITY INVESTING
TLFI specializes in focused equity portfolios with a strategic opportunity investment approach and a business owner’s perspective. Stock selection for long-term growth and preservation of capital has been our competitive advantage since 1977.
CLASSIC INCOME INVESTING
We also develop and manage customized portfolios with high quality fixed income investments and sustainable dividend-paying stocks.
TLFI actively looks for outstanding small, mid and large cap companies with the following characteristics:
1. Addressing a major unmet need
2. Developing an innovative and proprietary solution
3. Solid business model
4. Sound financials
5. Strong management team
6. Effecting positive change in their target market and business
7. Large and expanding total addressable market
8. Favorable competitive position and industry dynamics
9. Attractively valued sustainable growth
10. Good potential to achieve superior long-term capital appreciation
Strategic thinking and vision is our starting point for seeking exceptional long-term investment opportunities. We often take “the road less traveled” and develop a differentiated point of view. This enables us to discover both (1) smaller, younger companies with promising prospects that are less recognized and (2) larger, more seasoned companies that are effecting value-enhancing changes that are under-appreciated, both of which can potentially lead to significant long-term investment outperformance.
In-depth fundamental company research and analysis is at the core of our investment approach. We strive to develop an insightful understanding of the major long-term value drivers of a company’s business, its future growth, and its valuation outlook. Our research effort combines the best of (1) independent initiative and analysis and (2) deep and longstanding industry relationships.
We manage focused equity portfolios. In this context, we believe in prudent diversification, but not over-diversification. We select portfolio companies irrespective of market cap and benchmark. Given our long-term business owner’s perspective, we differentiate between (1) short-term market volatility and temporary, fixable company issues and (2) permanent impairment of fundamentals and capital. While we work patiently and constructively with respect to the former, we apply our sell discipline with respect to the latter.
Our equity portfolios can be customized to address individual client goals and preferences. Through ongoing client dialogue, we can adjust portfolio investment strategy. We don’t have just one approach because we don’t have just one client.
For clients seeking stable income and preservation of capital, TLFI invests in U.S. Treasuries, high quality Municipal Bonds, Investment Grade Corporate Bonds, and sustainable dividend-paying stocks. Our diversified bond selection is informed by economic, market, and credit conditions.
Based on individual client objectives, TLFI offers portfolios with customized asset allocation that combine the best of our Specialized Equity Investing and Classic Income Investing in single client portfolios. These individually balanced portfolios are especially well suited for clients seeking a particular blend of capital growth, income, and cash flow, with more portfolio stability.