Grow Wealth

Fundamental Equity Analysis: What Do the Numbers Say?

At its core, our equity investment approach at Clifford Swan is to own businesses. On behalf of our clients, we purchase companies that make goods, pr...
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Grow Wealth

How to Invest When Company Lifespans Are Shrinking

In 1965, a company in the S&P 500 Index had an average life of 33 years. Incredibly, that number is now down to 18 years and falling. What’s driving t...
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Grow Wealth

Lessons Learned by a Patient Investor

I began my investment counseling career in 1979. The Dow Jones Industrial Average (DJIA) ranged between a low of 797 and a high of 897 that year (the ...
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Grow Wealth

How to Invest in a Temperamental Market

"In the short run, the market is a voting machine but in the long run it is a weighing machine." —Benjamin Graham After an eventful first quarter of ...
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Grow Wealth

A Very Short Course in Behavioral Finance

Behavioral finance is the study of traditional finance theories coupled with the study of psychology. Three Nobel Prizes in economics have been awarde...
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Grow Wealth

Corporate Tax Reform and the Pursuit of Value

One of the most widely accepted principles of investing is that the intrinsic, or fundamental, value of an investment equals the present value of all ...
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Grow Wealth

Believe So That You May Understand

Stock market investors have experienced quite a volatile ride over the last two decades. As measured by the S&P 500 Index, the stock market tripled fr...
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Grow Wealth

Words from the Wise and Today's Stock Market

There are great quotations about many areas of human affairs, and the field of investing is no exception. Let’s take a look at a few of them and see h...
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Grow Wealth

Back to Basics: Asset Allocation

What is asset allocation? Simply put, it is the strategic mix of asset classes in a portfolio. The universe of assets in which to invest is broad and ...
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Grow Wealth

Inflation: Is This the Inflection Point?

The U.S. economy may be at an inflation inflection point. Oil prices have doubled since February of 2016, and the election of Donald Trump as the Pres...
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