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Shikiar Asset Management Inc.’s investment philosophy is
specifically designed to limit risk in the pursuit of consistent, positive
long-term investment returns. Whether it is through equity management or a
combination of equity and fixed income securities, the firm’s goal is to
preserve capital in declining markets, and in rising periods achieve
long-term market-type rates of returns as defined by the Standard and Poor’s
500 Index.
Shikiar’s investment philosophy is predicated on the belief that, irrespective
of volatility in market sentiment, over the long term companies will trade on
their underlying fundamentals. We believe our long-term performance goals can
be achieved by investing in solidly financed, well-managed companies with
sustainable earnings power, whose value has not been fully captured in their
present stock market prices. We therefore consider ourselves owners of
companies as opposed to just stocks, which enables Shikiar to take a patient,
long-term strategic view with regard to our investments, and, in turn, our
clients’ capital. This long term fundamental view on investing also allows us
to ignore much of the short term “noise” that may temporarily move stock
prices, and focus on longer term underlying business trends and corporate developments.
The result is a lower-turnover, more tax-efficient, diversified portfolio of
well-managed companies trading at reasonable valuations.
We consider ourselves opportunistic investors looking for companies
exhibiting both growth and value characteristics. Beginning with a strong,
detailed analysis of the fundamentals of a corporation, we seek to buy stock
in high quality market leaders that are still trading below our perception of
their intrinsic values. We favor liquid, large capitalization companies, but
are also opportunistically searching for, and investing in,
mid-capitalization companies that will be tomorrow’s leaders.
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