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
Dividend Growth for the Long Term
Buy quality stocks that increase dividends regularly. This simple strategy takes a long-term view of investing and focuses on the dividend, not the stock price. Passive income generated from dividend growth has two main benefits. First, it focuses your investment strategy on cash-generating, growing companies. Second, it tends to lead to quality businesses that are neither too young nor too old. Why is this so? Almost by definition, a dividend-growing company tends to cover expenses with rising cash flow. And which companies do these tend to be? They tend to be profitable, established companies in the middle of their corporate…
MuniWatch — May 2021
Municipals continued to outperform in April, with yields falling by up to 16 basis points (bps) compared to U.S. Treasury yields decreasing by up to 9 bps. Key Points: • Muni Mutual Funds again added to record inflows for the month• Demand has been fueled by rating agencies revising sector outlooks to the upside, Federal Stimulus funds making their way to issuers, and plans for tax hikes.
Great Expectations or Just High Hopes?
The U.S. stock market has been on a tear of late, rising 56% in value, or $18 trillion, in the last year. Two-thirds of the gain came in the six months since October. Surging stock values of late mirror last spring’s rapid plunge, leaving many feeling elated, unnerved, and anxious. Are expectations for the world ahead justified and fairly factored into stock prices? Or is the bull run reflecting unrealistically high hopes? A Pretty Penny In our view, valuations are full. By most metrics, we see stock values at high levels. Just look at the value of U.S. stocks at…