Good afternoon,
With the market action this week, we wanted to reach out with an update. Pullbacks and corrections in the market are normal, but never comfortable. We remain confident in the quality of the companies we own and disciplined about our portfolio process. To give you a sense of this, we rebalanced our discretionary client portfolios last week to trim profits from holdings where we felt valuations were approaching the higher end and leaned towards companies with more attractive valuations and higher dividends. We also made the decision to step away from our holding in Facebook. We are monitoring markets closely and focused on taking advantage of this pullback to top up quality dividend paying holdings, such as Johnson and Johnson.
In this week’s blog, we have included:
Weekly Global Insight article: “Don’t be Shaken by the Shakeout”. To view article, click here.