January 25, 2014
Ed Handley, CFP®, Sr. VP, Fulcrum Securities
"Market Outlook for 2014 and Why"
Mr. Handley specializes in equity and fixed income investments and provides financial and retirement planning
services on a discretionary basis to individual and institutional investors. Ed employs a tactical allocation
strategy when selecting investments for his clients through careful stock and fixed income selection, and strategic
allocations in sector specific mutual funds.
Mr. Handley started in the financial services industry in 1988 with Dominic & Dominic Inc. He moved to Legg Mason
Wood Walker and ended up at Prudential Securities, Inc. in 2000. He joined Fulcrum Securities in 2009 from Wachovia
Securities where he worked from 2004, as a result of that firm's acquisition of Prudential's brokerage unit that
same year. While at Wachovia, Ed was awarded the prestigious designation of "Portfolio Manager".
He is a host of the award winning, financial radio talk program, "Money Talk." Mr. Handley has over 15 years experience
as a radio talk show host on various stations in the Washington, DC area. Additionally, he is a frequent speaker at
Prior to 1988, Mr. Handley was in the United States Air Force, where he attained the rank of Colonel. His final
assignment was as Chief, Tactical Air Forces, Studies, and Analyses at the Pentagon in Washington D.C. He was awarded
a B.S. degree in Engineering from the University of Maryland, and an M.B.A. degree from Pepperdine University in
Malibu, California. Mr. Handley earned the Certified Financial Planner™ designation in 1988, and is past Membership
Chairman of the Northern Virginia Chapter of the Institute of Certified Financial Planners.
About Fulcrum Securities
Fulcrum Securities, LLC is a registered independent full service regional broker/dealer offering brokerage and money
management services to individual and institutional investors. Fulcrum Advisory Services, LLC is an SEC registered
investment advisory firm providing asset management and consulting services. The Firm's product suite includes a
wide range of services for a diversified client base and is particularly suited to serve the portfolio needs of
not-for-profit organizations, especially those needing expertise in the field of ethically and environmentally
screened portfolios. Fulcrum Securities is headquartered in St. Louis, Missouri. Fulcrum Advisory Services is
headquartered in McLean, Virginia. Member FINRA and SIPC. For more information visit
February 22, 2014
Carl Perthel, CMT
"Is the Bull Market Over? A Macro Look At Market Cycles"
Carl Perthel, CMT has served as Portfolio Manager for American Asset Management Group, Inc. ("AAMG") since 2001
. He lends his considerable expertise to AAMG in
the areas of Sector, Industry Group and Inter-market Analysis. Carl is the author of AAMG's STARS Methodology, an
enhanced method of portfolio evaluation.
Mr. Perthel began his career in 1987 with Merrill Lynch & Co. and has served as a Registered Representative with
First American National Securities, specializing in the mutual fund industry. In 1994, Mr. Perthel served as an Equity
Analyst with a private investment firm, later becoming an Associate Portfolio Manager.
Carl has a B.S. in Business Administration and a graduate degree in Finance from the University of South Carolina.
He served the University as a research assistant and is a co-author. Carl is a member of the Market Technicians
Association of New York City, a former President of the Washington (D.C.) Association of Money Managers and currently
sits on its Executive Committee. He is a member of the American Economic Association.
Carl holds the designation of Chartered Market Technician (CMT), a globally recognized accreditation awarded to
qualifying individuals in the field of financial research and securities analysis. Carl is a visiting scholar at
the Howard University School of Business Administration, George Mason University, and at the University of Virginia's
Professional Study Program, lecturing on technical market analysis, behavioral finance and portfolio management.
March 22, 2014
Dave Robertson, CFA, CEO, Arete Asset Management, LLC
Exploring Mid-Cap Stocks
- Mid-cap stocks are an attractive universe
- There are several company-level reasons why mid-caps can be attractive
- There are also higher-level, systematic reason why mid-caps are attractive
- Mega caps often face headwinds such as reaching "stall points"
- Several profiles and hunting grounds for attractive stocks.
- Some key risks of mega-cap stocks.
- General insights into active money management.
REASONS FOR ATTENDING:
- Expand your horizons regarding stock selection.
- Chance to ask a practitioner questions about process and markets.
- Gain perspective regarding asset allocation.
David Robertson, CFA serves as the CEO and lead Portfolio Manager for
Dave has been dedicated
to the investment management business for over twenty years having analyzed stocks in a wide variety of size and style categories.
Early in his career, he worked intimately with a sophisticated discounted cash flow valuation model developed by Callard,
Madden and Associates which shaped his skill set and investment philosophy. Since then, he has worked on large, institutional
portfolios as well as those of high net worth individuals. Recent experiences include starting up a mid-cap core institutional
strategy at Credo Capital Management and managing the Ark mid cap fund at Allied Investment Advisers prior to its
acquisition by M&T Bank.
Having worked his way through Grinnell College, the CFA program, and the evening program at Kellogg, Dave is intimately
familiar with balancing the need for capital preservation with the desire to exploit market opportunities as they arise.
He majored in math with extensive studies in economics and philosophy at Grinnell. At Kellogg, Dave majored in finance,
marketing, and international business while completing the CFA program concurrently. Dave has served as president and
co-chair of programs for the Baltimore CFA Society and serves on the Investment Subcommittee for United Cerebral Palsy,
Central Maryland. He has lived in Baltimore since 2000.
April 26, 2014
Members: Bob Bigrigg, Nelson Good and Sheryl Patterson
Three Perspectives on Stock Analysis (Member Presentations)
Three of our members demonstrated their different approaches
to stock analysis. The discussion included use of AAII's Stock Investor Pro, Better Investing's Stock
Selection Guide (SSG)as well as various other information sources and analysis techniques.
May 24, 2014
Dennis A Kranyak
An Introduction to the High-Yield Dividend Portfolio
Dennis provided an introduction to creating and managing a high yield (>10%) dividend portfolio. The presentation covered
how his approach came about, why the individual investor can beat most large brokers models, and the tools and techniques he uses
to consistently produce yields in excess of 10% without touching the investment principal.
Dennis A. Kranyak has been in the market since 1967 and a full time trader since 1996. Formerly an advisor to
Richard Smitten for his books on Jesse Livermore and Livermore Trading Software, he established
Starting in 2011 he was also co-author of the Income GPS Newsletter, and currently provides market research
information to independent financial advisors as part of SectorVue. He has been conducting workshops and
seminars since 2009 from Baltimore to Charleston, SC. A member of the Society of Market Technicians since 1992,
he currently serves as its President of the Board of Trustees. His first book, 5 Minutes a Month to Superior
Investment Returns, were available in 2014.
June 21, 2014
Chris Koomey, President Online Trading Academy
Building Your Retirement Business: Developing Your Systematic Approach to More Consistent Retirement Returns
Chris Koomey will outline three Core Wealth Management Strategies based on established insurance, banking and trust
companies business models that you can apply to your own retirement business. These strategies focus on achieving
more consistent returns while reducing the risks inherent in conventional market based strategies.
Chris has been investing since 1994 and currently invests in the financial markets and private companies. Chris is
a lifetime member of the American Association of Individual Investors. Chris received his JD from the Marshall-Wythe School
of Law at the College of William and Mary and his BA and MA from the University of Chicago. Chris has been helping
grow businesses for over two decades as a business owner, business consultant and business attorney.
Chris brought Online Trading Academy to the Washington DC Metro Region in 2007 and operates learning centers in
Tysons Corner and near BWI Airport in Elkridge, MD. Since 1997, Online Trading Academy has provided professional
level education for individual investors and traders. Online Trading Academy provides lifetime learning access to
hands on, real time learning opportunities in the financial markets both online and in person at 35
learning centers around the world.
The Core Strategy which helps identify market turning points is part of every educational course offered by the
Online Trading Academy and is protected by a US patent. Online Trading Academy provides a vibrant learning community
to students who want to actively manage income and wealth strategies for themselves and their families.
July 26, 2014
Joseph J. Dankowski, CFPTM
Vice President, First Financial Group, Baltimore, MD
Retirement Income: Planning and Distribution Strategies
The presentation will focus on strategies to recreate your paycheck in retirement, how to draw an income
from your assets in tax efficient manner, and how to create safety nets in your overall plan. This session will
benefit those who are nearing retirement as well as those who may already be in the retirement phase of their
life. Most people know how to save and accumulate wealth and most do not know how to turn the savings into income.
- Attendees learned:
- Steps you can take today to recreate your paycheck in retirement
- How to draw down or off of your assets to try and minimize taxes
- How to build buffers and safety nets in your retirement income
- Reasons for Attending:
- So you have saved for years, do you know how to create income from your savings?
- What steps have you taken to protect your retirement income from market volatility? What if we have another year like 2008?
- What have you done to protect your retirement income from rising taxes and health care costs?
Joseph Dankowski is a CERTIFIED FINANCIAL PLANNERTM(CFP) with the First Financial Group, one the largest
independent financial services firms in the Mid-Atlantic region.
He leads a financial planning practice
that assists corporate executives, entrepreneurs, physicians, business owners, and their families to develop
and implement coordinated wealth management and financial strategies. Concurrent to his role as a
CERTIFIED FINANCIAL PLANNERTM, Joseph is also Vice President of the First Financial Group and is accountable
for the firm's growth, product distribution, revenue, and risk management.
Previously, Joseph led the
financial planning and wealth management division for Ameriprise Financial in Baltimore, Maryland and the
Washington D.C. metro area. There he led 50 financial advisors and staff. He resides with his wife,
Desiree, son, Tripp, and dog, Bogart in Baldwin, MD. He enjoys fitness, cooking, golf, real estate,
skiing in the winter and beach activities in the summer.
September 27, 2014
Carl Perthel, CMT, Portfolio Manager AAMG
Buy in May and Go Away... Still Relevant?
Carl will provide a follow-up presentation to his February presentation to the CISIG by reviewing the
history of "Buy in May and Go Away," while discussing industry views from proponents and nay-Sayers
regarding this topic. He will review statistical evidence through 2014, comparing "buy and hold" with
"Sell In May," so CISIG members may draw their own conclusions regarding this controversial maxim. In
his presentation, Carl will also examine the Presidential Cycle and its possible implications during
the 2014 "Sell in May" time frame and why 2014 may be the most important year to recognize "Sell In May."
Further, Carl will present an optimized version of Sell In May that may enhance portfolio returns.
Carl Perthel, CMT has served as Portfolio Manager for American Asset Management Group, Inc.("AAMG")
since 2001 www.aamg.com . He lends his considerable expertise to AAMG in the areas of Sector,
Industry Group and Inter-market Analysis. Carl is the author of AAMG's STARS Methodology, an enhanced
method of portfolio evaluation.
Mr. Perthel began his career in 1987 with Merrill Lynch & Co. and has served as a Registered
Representative with First American National Securities, specializing in the mutual fund industry.
In 1994, Mr. Perthel served as an Equity Analyst with a private investment firm, later becoming
an Associate Portfolio Manager.
October 25, 2014
Predatory Behavior in the Markets
Does the small investor have a fair chance investing against high-frequency trading firms, Wall Street banks and insiders?
Are the markets rigged? In this presentation Mr. Navari will look into the history of market changes and how they affect market
manipulation and encourage predatory behavior. And, he will discuss the fight of a growing group of activists seeking to
restore more balance to the marketplace as well the importance of individual investors joining in this fight for fairness.
Mr. Navari is not a registered Investment advisor; rather he is a Technology Entrepreneur. He holds a B.S. in Electrical Engineering
from the University of Vermont and has held both technical and management positions at IBM and several privately held
information technology firms in the Washington, DC area before becoming a partner at VERTEX Solutions, Inc.
As one of VERTEX Solutions, Inc. three founding partners and VP of Business Development, Mr. Navari lead VERTEX from
a small niche learning technology consulting firm in 1997 to a $15 Million Human Capital IT consulting firm employing
over 100 associates. In 2008, VERTEX was acquired allowing Mr. Navari a substantial return on his initial investment.
At the conclusion of the sale, being financially conservative and feeling like the only responsible thing was to seek
professional investment advice, he turned the management of his portfolio over the Wall St. Professionals.
To his horror, he watched as the Stock Market collapsed and a large portion of his investment vaporized in a
completely preventable man-made financial disaster. Having had his fill of Wall Street's finest, he took back
control of his investments and over a 4 year period made more than double what was lost.
In March 2014, inspired by Michael Lewis' book, Flash Boys: A Wall St. Revolt, he became an Investor Advocate
lecturing, blogging, and lobbying for structural reform of the Equity Exchange markets. He has been interviewed
by CNBC, Barrons, Politico and NPR's Market Place. He has briefed Senator Leahy and a variety of Congressional
Representatives offices. In addition, he has filed formal complaints with the SEC and FINRA relating to violations of
FINRA Rule 5310.
Serving as a speaker, moderator, and holding advisory board positions at over 20 industry conferences, David has
presented/lectured extensively on the subject of Business Case, Financial Planning, Acquisition Strategies for
Information Technologies/Advanced Distributed Learning (ADL).
November 15, 2014
First part:"The Investment Implications of the Affordable Care Act."
Second part: "Key Investment Strategies"Predatory Behavior in the Markets
Heath care stocks have been some of the strongest market performers in the past few years.
Some of the groups within it, like managed care and hospitals, have done really well.
However, can this strong performance continue
In this presentation, Tony will discuss "The Investment Implications of the Affordable Care Act."
In the presentation, he will discuss the key features of the act, some of the myths, and then
describe different sectors of the health care market and their potential as investments.
He will try to address some important questions such as: What is the state of long-term care
as boomers enter later retirement? What are some of the important sub-groups within the industry?
Who are the leaders in each group? What is the role of various "wonder drugs" in this
performance? And, which segments are worth your investment dollars?
Time permitting Tony will also cover some other investment topics that might of interest to members.
These include, but are not limited to, the importance of financial planning, the need for careful asset
allocation decisions, and the importance for comprehensive basic investment education in meeting your
long-term investment goals.
Background: Tony has a Ph.D. in Social Psychology from the University of Kentucky and spent 26 years
working as a Senior Analyst for the US Centers for Medicare and Medicaid. He also directed
development of Medicare's home health outcome measurement system, a national model for health
care quality assurance systems. More recently he has been a volunteer through Organizing for
Action with the Affordable Care Act. His blog is healthreformaction.blogspot.com.
No Meeting in in December