Exercising Discipline with a Value Investing Philosophy: A Wall Street Transcript Interview with Jacques R. Elmaleh, CFA, Director of Investment Research, and Lead Portfolio Manager of the GARP, Dividend and International Strategies at Steinberg Global Asset Management

Wall Street Transcript

67 WALL STREET, New York - August 1, 2014 - The Wall Street Transcript has just published its Investing Strategies Report. This special feature contains expert industry commentary through in-depth interviews with highly experienced, professional Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

Topics covered: Small Cap Investing - Value Investment - Investment Risk Management Strategies - Long-Term Investing - High-Quality Companies - Company Fundamentals - Long-Term Growth - Diversified Assets

Companies include: Procter & Gamble Co. (PG), Verizon Communications Inc. (VZ), Ensco International Inc. (ESV), Lockheed Martin Corporation (LMT), Gilead Sciences Inc. (GILD), Devon Energy Corporation (DVN) and many others.

In the following excerpt from the Investing Strategies Report, an experienced asset manager explains his investing methodology and current top portfolio picks for his investors:

TWST: What is the overall investment philosophy of the firm?

Mr. Elmaleh: We are conservative investors that try to match risk with the individual needs of the client. The foundation of our business has a value investing philosophy. We have a growth strategy, but it's more of a growth at a reasonable-price. The foundation is exercising investment discipline with setting price targets and making sure that we know what we own and that we own things that we think are attractive based on what we think they are worth.

TWST: What are your primary strategies?

Mr. Elmaleh: We have a number of strategies, actually. We put together a unique, individual strategy mix depending on the individual goals and needs of our clients. We customize a mix of our strategies for each individual, so each account may be a little bit different. On the equity front, we have a dividend strategy, a GARP strategy, a value strategy, a multicap ETF strategy, an international concentrated strategy as well as an international ETF strategy. For fixed income, we manage a fixed income ETF as well as individual fixed income holdings. I run the dividend and the GARP strategies.

TWST: In the dividend income strategy, what are the major factors you are looking for when you are selecting equities for a portfolio?

Mr. Elmaleh: Let me give you a little background on how it came about. A few years ago, Rich Steinberg was looking for some reinvestment options for many of our fixed income clients. A lot of our clients are retired, and they need cash flow to live. We try to generate it by taking the least amount of risk, and the fixed income market just didn't provide it. So he told me to come up with a strategy where we take some of our best ideas from our GARP and our value strategies with the highest yields, and then complement that with some conservative income stocks.

We put together a strategy that has 25 stocks...

For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

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