Financial Services,Gehman Capital
EducationUniversity of Chicago
QualificationsMBA, Series 7, 65
Investment Experience50+ Years
Undervalued Growth Companies
The goal is to build a diversified investment portfolio of undervalued stocks and then manage the fully invested portfolio to maximize returns
The portfolio will identify companies that have a unique product in a growth industry with enough financial resources to withstand economic stress. Management must identify goals and demonstrate a single minded commitment to achieve those goals.
The portfolio will usually start by investing in a small position. Then, I will seek to to add to the it if share prices decline due to economic stress.
Once the company realizes its potential, the portfolio will sell shares on a rising scale.
In depth analysis of industry, company and management.
The model will usually own a fairly large number of securities.
When the “undervalued” securities become “valuable”, the portfolio will sell them in order to buy other “undervalued” securities
The portfolio needs to own enough companies so that it can benefit from the dynamics of the marketplace.
When the company realizes its potential and the stock price rises, the portfolio will sell shares on a rising scale.
Even when “evolving” companies are doing very well and the stock price goes up substantially, they are vulnerable to “problems” and the price can come down very rapidly.
We prefer to take profits and move on to the next situation, or later, repurchase shares of investments we like at lower prices.
Covestor inception October 11, 2010
|as of August 28, 2014
||Manager (net of fees)
|Past 30 days
|Past 90 days
|Past 365 days
|Since Covestor inception (Annualized)
Last 365 days
|as of August 28, 2014
||Manager (net of fees)
|Best 30 days
|Worst 30 days
|Value-at-risk (95%, 1 week)
||vs. Russell 2000
||vs. S&P 500
Average trades per month 1.9
Past performance is no guarantee of future results.
Performance of the portfolio manager's account is calculated by Covestor on a daily time-weighted basis, including cash, dividends and earnings distributions and broker commissions. Manager returns include trades and positions that fail Covestor's trading rules, as a result, actual client returns will differ. Covestor advisory fees are simulated and applied retro-actively to present the portfolio return "net-of-fees".
Average client returns are calculated by Covestor and are composed of the average, time-weighted returns of all active client investments (some of which may contain investment restrictions) to the underlying portfolio. These daily average returns are then linked together for the timeframe presented. These returns include cash, dividends, earnings distributions, brokerage commissions and Covestor advisory fees.
All graph data is as of the end of day for the referenced period, unless otherwise specified. The investment minimum is the minimum investment required to follow a particular portfolio. The minimum amount is determined by Covestor, based on the characteristics of the underlying portfolio. It should not be considered as specific investment advice for your investment situation.
The performance charts are provided for informational purposes only, and should not be used as the basis for making an investment decision. Variables such as corporate actions or foreign exchange may affect daily performance displays. We rely on mathematical formulas, computer programs, and pricing information from third-party vendors to provide these returns. Neither Covestor nor any of its data or content providers shall be liable for any errors in this information or any actions taken by you in reliance upon this information.
Benchmark returns have been calculated by Covestor using a time-weighted calculation of daily index valuations. Benchmarks presented are total return and therefore inclusive of cash, dividends and earnings distributions but not transaction costs.
Leverage indicates the level of margin utilized and is calculated by dividing gross exposure by portfolio net liquidation value.
All Portfolio Manager information including personal data, profiles, strategies, monthly investment reports, and historical results outside of Covestor has been provided by the Portfolio Manager. Covestor makes no representation or warranty of its accuracy, completeness or relevance and it does not represent the opinions of Covestor. Transaction history is available upon request. Portfolio classifications are provided by Covestor, and are intended to serve as a general guide.
Transactions that are marked as "Replicable" passed Covestor's trading rules and were eligible for replication at the time of execution, subject to individual
client constraints. Eligibility for replication may change over time. Actual client investment trade activity may vary.
Index returns do not reflect any management fees, transaction costs or expenses. Individuals cannot invest directly in an Index.