Fundamental Value Investing Strategy: An Interview with Eric Kallen, President and Chief Investment Strategist at Hayek Kallen Investment Management, LLC.
67 WALL STREET, New York - September 30, 2013 - The Wall Street Transcript has just published its Investing Strategies Report. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Long-Term Investing - Value Investing - Investment Strategies - Longer-Term Investing - Socially Responsible Investing
Companies include: Apple Inc. (AAPL), McDonald's Corp. (MCD), Wal-Mart Stores Inc. (WMT), The Coca-Cola Company (KO), Dell Inc. (DELL), Hewlett-Packard Company (HPQ), QUALCOMM Inc. (QCOM), Novo Nordisk A/S (NVO), Morgan Stanley (MS), Hertz Global Holdings, Inc. (HTZ), Philip Morris International, I (PM), Altria Group Inc. (MO) and many others.
In the following excerpt from the current Investing Strategies Report, an experienced portfolio manager discusses his investing methodology and top picks:
TWST: Please provide an overview of Hayek Kallen Investment Management.
Mr. Kallen: Hayek Kallen Investment Management is an investment advisory firm whose goal is to serve the long-term financial interests of their clients by preserving and growing their capital in a tax-efficient manner. Since 1985, Hayek Kallen has used fundamental security analysis and a balanced-value investment approach to prudently manage individual stock and bond portfolios. Hayek Kallen strives to operate without conflicts of interest and act as trusted fiduciaries for their clients. Hayek Kallen manages approximately $235 million for roughly 240 families.
TWST: You follow a fundamental value investment discipline. Would you explain what that means?
Mr. Kallen: As value investors we strive to identify companies whose inherent or intrinsic value is significantly above where the market has priced it. To identify a company's true value we focus on the core elements of the company. Part art and part science, we utilize a comprehensive top-down and bottom-up approach. At the center of this is the company's financial performance. Cash flow, balance sheet strength, dividend track record and the ability to continue to grow the dividend, returns on assets and equity are all important to us.
Layered on top of this are assessments about the products and services being produced, the management team and their overall competitive position. Ultimately we arrive at a numeric value for the business...
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