OBJECTIVE
Total Return = Capital Appreciation
Plus Income
STRATEGY
Growth at reasonable
prices
SMC Capital Management, Inc. seeks
to achieve positive, competitive returns while minimizing
risks for our equity investors by employing a RELATIVE VALUE
approach to identify sectors, industries and companies that
offer growth opportunities at reasonable prices. Companies
that meet our specific requirements for financial strength,
earnings, cash flow expectations, market liquidity, deemed
to be low-cost producers, provide proprietary products or
services as well as being industry leaders are considered
for client portfolios. The top one-third of the companies
that are included in the Standard & Poor's 500 Stock Index
make up the universe of companies considered for investment.
Fundamental
Investment Analysis
State of the art electronic resources
and proprietary screening techniques are used to analyze industry
and company financial data to identify companies that exhibit
the three key elements of value:
- positive revenue growth.
- positive earnings growth
- an attractive relative price/earnings
ratio
These factors coupled with frequent,
direct contact of company management ensures that all securities
purchased are thoroughly analyzed.
Sell Discipline
A target price is established and
updated on a regular basis relative to overall market fundamentals.
An equity is sold or reduced when its target price is reached
and, also if the fundamental reasons for purchase have changed
or when a stock price declines twenty percent relative to
the market unless an unusual period of market volatility exists. |
