Equity Investing
We seek to buy growing, profitable, and well-capitalized businesses at reasonable prices. The habit of relating quality to value is central to the WCA equity investing process.
Asset Allocation
A comprehensive suite of asset allocation portfolios focused on matching investment objectives with risk tolerance. Both passive and active strategies are offered.
Fixed Income
This portfolio seeks to generate a stream of income from a portfolio of 30 investment-grade corporate bonds. The portfolio is constructed as a “ladder” with maturities spanning 10 years.
Recent Commentary
MuniWatch — Spring 2022
Yields rose across all fixed income assets due to expectations of swift Federal Reserve (Fed) rate hikes to curb run-away inflation, and munis were no exception. The “rich” valuations that we pointed out last quarter have turned firmly into our “cheap” range as a result of the selloff.
Q2 2022 Tactical Asset Allocation
The first quarter brought a surge in inflation and war in Eastern Europe. This environment imposes a new reality on investors and policymakers. In this report, we discuss what is happening and how our top-down portfolios are positioned now.
Expectations and Cycles
Against a backdrop of falling consumer expectations, we consider what a “typical” cycle tends to look like. As an old aphorism states: “History doesn’t repeat itself but it often rhymes.” We offer a highly “stylized” interpretation of market cycles to consider the current situation.