My clients come to me with their funds, and based on their individual goals, I place the funds into investments that are appropriate for them.  I take a holistic approach to determine what investments are correct for each clients’ account.

Businesses are creations of people, and people are the most important thing in business.  To evaluate a business, you must be able to assess people.  Also, you must be able to evaluate financial reports, prospects of the business, and be willing to endure the fluctuations which are common in the markets.

I have spent years doing just that, from learning to evaluate people as a leader in the Army, to formal education with a B.S. in Economics, an MBA, and current work toward a Ph.D. in Business Management.  I have owned two restaurants, which taught me the fundamentals of business management in a real-world environment. I have served as a Chief Financial Officer for a small private company, where I learned more about accounting and taxes than I ever learned in school.  Using the combination of these experiences, I believe I can evaluate businesses correctly.

Mostly, there is a lot of reading.  I have been reading corporate filings for years.  Finding an excellent investment can be quite hard.

It may take a year to find a new investment that fits my criteria.  For the businesses I find that meet my criteria, I keep track of their performance over time via information filings.

I have a preference to hold investments for the very long-term.  However, if the businesses outlook changes, its prospects diminish, or the security reaches a valuation in excess of what is logical, then it may be time to sell.  Keeping on top of changes in the industry, and the company’s financial position over time is incredibly important.  To be clear, investments are sold when facts change, not when the price goes down. 

Each account is dealt with separately, and as such, each has its own individual return.

Over time, I have engaged with management through phone calls, emails, letters, the voting of client proxies, as well as attending numerous annual meetings.  Sometimes I am one of the few shareholders who shows up at the annual meeting, and I often ask questions and offer suggestions to the Board.

100% of the time.  A phone call to me by a client is a #1 priority, and clients can feel free to call any time, day or night, to ask any question they may have.  As a carry-over from my time in the Army, I am never truly “off duty.”

Currently, BCM uses Interactive Brokers LLC as its custodian for separately managed accounts.  Interactive Brokers LLC is a third-party custodian and is not affiliated with BCM. New clients wishing to use the advisory services of BCM will generally be asked to establish an account at Interactive Brokers LLC.  Positions clients hold at other firms can be transferred to Interactive Brokers LLC using a position transfer.  For new clients who already have an account at Interactive Brokers LLC, an abbreviated process exists which we are happy to discuss in detail.

Interactive Brokers LLC has numerous accounts types, including Individual, Joint, Corporation, LLC, and IRAs.  Please contact us to see if we can service your account type.

There is no official “minimum amount” investment requirement for BCM.  However, BCM generally wishes to ensure that prospective clients are serious and have an appropriate mindset about investing over a long period.  

Equity securities are fractional ownership of a business.   Because the right to vote in director elections and other shareholder matters are intertwined with the concept of ownership, clients of BCM will sign a Special Power of Attorney allowing BCM to vote securities in their separately managed account.  BCM takes this obligation seriously, and all decisions about voting are made at the sole discretion of BCM.