Dennis Nelson, our Chief Investment Officer, shares his reasoning for buying Chevron Corporation (CVX), the 140 year old California based oil conglomerate.
Dennis has commented that the share price, the 5.5% dividend yield, and the the company's financial strength have all contributed to the purchase of the stock in the portfolio. Though first quarter 2020 earnings were up over a year ago, Michael K. Wirth, Chairman and CEO of Chevron, made this comment, "“Our company entered this crisis well positioned with a strong balance sheet, flexible capital program and low break even price. These...
Aristocracy has been defined as a portion of society's upper or ruling class due to hereditary rank or title. During unprecedented market volatility it's smart to own a "dividend aristocrat" that brings with it extraordinary lineage in troubled times.
One company with such a bloodline is Abbott Laboratories (ABT) founded in 1888 by Dr. Wallace C. Abbott at the age of 30. During its 130+ year history, it has methodically built four powerhouse business units led by very talented and tenured individuals. With a market capitalization of $165 billion, this blue chip entity began paying a dividend...
Our Covered Call strategy has outperformed the market during it's free-fall and beyond. Called the Enhanced Dividend portfolio, it has kept our clients afloat when compared with the Dow Jones Industrial Average (DJIA).The Naples Money Manager's Enhanced Dividend portfolio was down only -2.10% versus the DJIA down -10.20% year-to-year for the period of April 10, 2019 to April 10, 2020. The year-to-date numbers are just as compelling with our portfolio down only -9.13% versus the DJIA down -16.89% for the period of January 1, 2020 to April 10, 2020.
Dawn Litchfield Brown sharing more relief resources (www.irs.gov/coronavirus), Dennis Nelson talking about our "double income" strategy and Marcus Bickle highlighting this new era in technology.
Our Enhanced Dividend portfolio not only pushes out above average income but it delivers a hedge to volatile markets! The DJIA (Dow Jones Industrial Average) has dropped by -21% as our strategy is down only -11% for the period 12/31/2019 to 4/6/2020 according to Advent APX performance software.