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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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