Rich Cheever

McCullough & Associates (MA) is an equity manager that employs a value investment approach that focuses on investments in mid- to large-cap stocks and also incorporates investments in some fixed-income assets. The firm's value investment strategy is based on the premise of rational expectations, which indicate that stock prices generally reflect all news available to the public. However, MA also believes there are often situations where stock prices do not reflect all the news available to the public. In those cases, stock prices move away from their intrinsic value. The firm purchases stocks when there are deviations in a stock's price from the fair or intrinsic value due to market forces, news events, earnings surprises and other factors. They typically buy undervalued stocks to provide some downside protection and additional returns if stocks return to their intrinsic value levels. MA seeks to determine the underlying business value of the equity of a company. If they find that the market value is below their intrinsic value estimate, they will then purchase the stock with the intention to hold the stock so long as the market fairly values the stock. MA evaluates potential investment candidates based on quantitative measures including p/e ratio, price-to-sales ratio, dividend yield and p/e to growth rate. They select stocks that meet their fundamental investment criteria. This evaluation includes an assessment of the future growth potential of the company and the stock price. Important considerations in the decision making process include an understanding of the reason for the undervaluation of the equity and an evaluation of any future catalysts that would have the potential to affect the valuation of the equity. MA also examines intangible factors such as the strength of the management team and the level of insider ownership of a company's equity. Emphasis is placed on the shareholder orientation of the management team.

Provides brokerage services

Offices Of Holding Companies

Relevant Wealth develops a personalized investment policy for each client and creates and manages a portfolio based on that policy. Their advice is based on long-term investment strategies that incorporate modern portfolio theory. The firm’s investment approach is firmly rooted in the belief that markets are efficient, and that investors’ returns are determined principally by asset allocation decisions, not market timing or stock picking.

Functions as a College/University

MAK Financial recommends asset allocations based on each client's unique economic situation, liquidity needs, risk tolerance, proposed investment period, need for diversification, current income needs, and present and anticipated tax situation. The firm also considers historical yields, potential appreciation and marketability before making investment recommendations. They recommend and manage many types of assets, including: exchange-listed securities, open- and closed-end investment companies, corporate debt, ETFs, US government securities, and other public and private securities or investments.

Functions as a College/University